Ep. 756: Taking the Damn Loss with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Cut Your Losses When It's Not Working
Sometimes you don't know when to throw in the towel. Sunk costs are resources that you've put into an endeavor that you can't get back out. We worry far too much about what we'll lose if we just move on and not nearly enough about the costs of not moving on. If your job or a relationship have taken up some of the best years of your life, it doesn't make sense to let them use up the years you've got left.
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