Learning to Take Small Losses Quickly

One important lesson in managing a portfolio is:

Take your losses quickly and move on!

We’re all going to make mistakes. The right thing to do is admit it was a mistake, sell the loss, and move on to your next investment.

It’s that simple. It’s what separates the pros from the amateurs.

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The Dow Jones Industrial Average is an unmanaged, price-weighted index of 30 large capitalization stocks with dividends reinvested.

The Standard & Poor’s 500 Index (“S&P 500”) is an unmanaged, market capitalization weighted index of 500 widely held stocks, with dividends reinvested, and is often used as a proxy for the stock market.

The Nasdaq Composite is an unmanaged, market capitalization weighted index of stocks listed on the Nasdaq Stock Exchange, and are reported as price return without reinvestment of dividends.

Indexes are often used as a proxy for the stock market and cannot be invested in directly.