“In 20/20 hindsight, decisions maybe good or bad but not right or wrong. With regards to markets only expressed opinions can be right or wrong. Market positions are either profitable or unprofitable, period. But due to vocabulary quirks, it is easy to equate losing money with being wrong...They confuse net worth with self worth.”
More from Jim Paul
“An objective loss is impervious to how you feel about it or react to it. It's not subject…”
“In a continuous process there is no certainty of how or when the open market position will…”
“Look at things as discrete events... an activity with a defined ending point.”
“You must act.”