facebookHey guys! In this time of WC, I would just like to bring about a general question which I'm sure everyone has at least come across once before: How do you guys deal with monetary losses, be it from stock investing, gambling, wrong purchase decision? - Seedly
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Anonymous

01 May 2020

Hey guys! In this time of WC, I would just like to bring about a general question which I'm sure everyone has at least come across once before: How do you guys deal with monetary losses, be it from stock investing, gambling, wrong purchase decision?

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    What are your thoughts?

    Darren

    Darren

    01 May 2020

    Level 6·Business Analytics Undergrad at NUS

    Lets say

    1. Wrong Purchase - lesson learnt. It depends on the item value and why I purchased it in the first place. Refund? Resell? Suck it up?

    2. Stock - revisit why you purchased it in the first place. Paper losses? Price fluctuations? Do you believe in your thesis?

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      Write down and focus on why u lost.

      Think about the reason u make the purchase decision in the first place. Is the loss realised?

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        I think this is what we call sunk cost fallacy. I would prefer to write it off and move on. because ...

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