I saw this post by gdett2 on Pencils Palace and liked it so much that I’m cross-posting it here.
no regrets ever, hmmmm how do you do that?
I look at regrets as kicking yourself for a decision. I believe when I make a decision it is based on the best info I have at the time. I do not know what will happen in the future.
I may look at a sell point later to understand what happened after, good or bad. That has helped me later when faced with similar situations. One more data point.
I don’t get into the “Wish I hadn’t sold.” or the other version, “I wish I had sold!” It goes both ways.
Wishing what might have been is just counter-productive because once you make that decision, the moment is gone and you can’t go back in time to change it.
That’s exactly how I feel. I make mistakes but I don’t regret my decisions. I figure I did the best I could at the time. I also don’t anchor on a price. For example when TSLA went from $30 to $75 in no time, I sold half my position. I then saw it continue up to $110. When it got back to $90 I got back in. I didn’t feel I had to wait for it to get back to $75 where I sold it. In fact when it was at $90, EVERYONE on the TSLA Board was saying they’d buy back in at $60 or $55. NOONE thought it would continue up. I figured if everyone figures it will go down, it won’t. And it didn’t.