“First, I’m told cost basis doesn’t matter,” Rocco Pendola writes for TheStreet. “Next, Netflix soars 40% on Reed Hastings’ latest smoke and mirrors show. Then I watch Apple crash 10% on one of the best earnings reports in the history of the world.”
“Am I living in one of the alternate realities I listen to Elliott Smith sing about or the ones I read about in a Haruki Murakami or William Gibson novel?” Pendola wonders.
Pendola writes, “There’s a good chance that if you ‘stand your ground’ (always be careful when you speak about a stock using such emotional language), AAPL will turn around, you’ll make money, recoup any losses, gain back profits and look like a genius. But you have to resist that urge. Because, like so many other things in life, what you think is going to be a one-off thing often becomes a habit. And reacting with an emotional stubbornness will hurt you more often than not.”
Read more in the full article here.
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