Stock Doc: Don't Aim, Just Throw the Ball!

Editor's note: Alden Cass, a psychologist, writes two columns for TheStreet.com: one that delves into how behavior and emotions affect investing, the other a health column specifically for men.

Every month, a new roster of patients trickles into my private practice in New York City, looking for ways to improve their productivity at work and their overall quality of life. One thing that I have learned in working with financial service executives, doctors, lawyers and athletes is that they all are fiercely competitive. Above all, they are overly critical of themselves for mistakes.

Instead of shrugging off and moving on from negative experiences like the major selloff that we experienced Tuesday, some folks ponder these events for way too long. When I lecture on this topic, I notice that audience participants complain of recent failures or misfortunes that are far more salient to them than positive achievements. Thus, they sit with failure far longer than they savor success. If you can identify with this, you are certainly not alone.

On the Couch

"John" is a very successful 36-year-old financial adviser working at a top firm in New York City. He was initially referred to me by his branch manager, whose intent was to take a good employee and make him a great one. All of the ingredients were there for John to be successful, as he was hungry, competitive, client-centered, well-spoken and analytical. However, despite all of these impeccable attributes, he felt that he should be further along in his business, with far more assets under management....