Take Responsibility for Your Stock Losses
Editor's note: This is the continuation of a special collection of previously published investing lessons from RealMoney contributor and market strategist Barry Ritholtz.
"He who blames others has a long way to go on his journey. He who blames himself is halfway there. He who blames no one has arrived."
-- Chinese proverb
In the first installment of "The Apprenticed Investor," we discussed why investors should expect to be wrong, and most importantly, having appropriate plans for what to do when you are wrong.That column gave you two lessons disguised as one. Hidden within was a second, subtler message. It is so obvious, yet so ignored by investors: You are ultimately the only person responsible for your investments.
Apprenticed Investor: Take Responsibility for Your Stock Losses
Bad Excuses for Poor InvestmentsAt times, the excuse-making from investors is even worse. Over the years, I have heard every complaint imaginable for why losses occur. Inevitably, these gripes go something like this: "It's not my fault but the fault of:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV