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Keep emotions out of your investment decisions from "summary" of The Smartest Investment Book You'll Ever Read by Daniel R. Solin
When you make investment decisions based on emotions, you are setting yourself up for failure. Emotions can cloud your judgment, leading you to make impulsive decisions that may not be in your best interest. Fear and greed are two emotions that commonly drive investors to make poor choices. Fear can cause you to panic and sell your investments at the wrong time, locking in losses. On the other hand, greed can make you take on excessive risk in pursuit of higher returns, leading to potential financial ruin. It is important to remember that investing is a long-term game. Making decisions based on short-term emotions can derail your overall investment strategy. Instead of letting emotions dictate your actions, it is better to rely on a well-thought-out plan based on your financial goals and risk tolerance. By sticking to your plan and avoiding emotional reactions to...
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