Great post Timmo, particularly for someone who's been a leading bull in the past. Always hard to shift your own thinking and you sound like you're coming around to a really rational assessment.
There's an odd psychology many investors have about holding a loss until you break even again. It effectively means they buy on the downtrend and then get out just as its recovering, or it never recovers. It's a strategy that by definition can't win and they waste years going nowhere.
Losses have to be cut, admit the mistake, write it off and start again.
I'll give you a thumbs up 'cause you don't get many when you're not a true believer.
LYC Price at posting:
40.0¢ Sentiment: ST Sell Disclosure: Held
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