When is the last time that you took a good look at your retirement plan? It doesn't matter if you have an individual retirement account, a 401k, or are an individual investor; your retirement plan should be making you money. If you aren't making money investing in your company's plan then you are doing something wrong.
One of the keys to being a successful investor is the ability to acknowledge when you have made a mistake. You have to be willing to sell your losing investors. Being a stubborn investor is a losing proposition for anyone. I have seen too many investors lose their hard earned money because they were too stubborn to sell a loser in their portfolio.
Change your philosophy and pick some winners. Where do you find winning stocks?
Many market pundits will tell you that you can't beat Wall Street. They will claim that Wall Street analysts have access to information that you just can't get when stock investing. Although this is a popular claim, I believe that it is dead wrong. You can beat Wall Street and men like Peter Lynch have proven it.
Wall Street is not infallible.
Great stock investors believe that even Wall Street experts and analysts sometimes get it wrong which is why the market creates opportunities for investment. Look at all of the stocks that Wall Street has been wrong on in recent years. They championed the cases of companies like Lehman Brothers, Enron, and Freddie Mac. Wall Street analysts failed to warn their clients about the dangers of investing in these high risk companies that only had paper profits.
If you had followed the wisdom of Wall Street over the past few years then you would have lost a ton of money during the market crash. The lesson to learn is to do your own homework when investing and trust your opinion more than the experts.
Don't you do the same thing! Be willing to part with your losers. Take the money that you save by selling and invest it in a stock that has the potential to be a long term winner.
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