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.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Opinion
Adobe Is a Compelling Growth Story at a Reasonable Price
Given consistent sales growth, expectations for expanding margins and a solid SaaS backlog, Adobe appears to qualify as a strong GARP (growth at a reasonable price) play.
Bad News for Chip Equipment Firms Isn't Necessarily Bad News for All Chipmakers
Chip stocks in general are selling off following a downgrade that's arguably only bad news for certain parts of the sector.
Google's $2.6-Billion Deal for Looker Drives Home Its Big Cloud Ambitions
While Looker operates in a very competitive market, it does have some unique technology strengths that could be useful as Google tries to grow its enterprise cloud position.
Uber's Earnings Call Provides More Fuel For Lyft's Shares Than Uber's
The ride-hailing leader says the U.S. market is now behaving more 'rationally.' But its broader profit outlook still looks pretty murky.