Next year’s Facebook Fundraiser?
Myopic Loss Aversion is “the combination of a greater sensitivity to losses than to gains and a tendency to evaluate outcomes frequently.”
In simple terms it means if you have your meager savings tied up in the stock market you MUST look at it several times a day. When your stock is up things are okay, but not great. You are always waiting for the inevitable drop and when it does go down the pains is like, YIKES!
It’s a good thing I don’t have much money; I’d never get out of bed!