Not your close friends or relatives or even your brokers would dare to advise you to sell your stocks unless there are headline news that are obviously pointing to your company going under.
Why don't people advise you to sell your stocks?
People don't have any problem to recommend their friends and relatives to buy stocks. Why?
When you recommend someone to buy a stock and even when the stock price plunges after buying, you can confidently and easily console the buyer and give the buyer 101 reasons why it is still good to hold and can even consider to average down.
But, if you advise someone to sell his/her stocks and if after selling the stock, the stock price shoots through the roof, the seller is not going to forget your lousy advice for a long time.
Can you find 101 reasons to console the seller why he/she shouldn't be holding and selling is the right thing to do?
When you buy and hold, the game is on and there is always hope; but, when you sell, the game is over and no more hope. People rather be hopeful than hopeless so buying is always easier and selling is always harder.
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