Human minds are hardwired with traits that might serve us well when trying to survive, but are detrimental when attempting to make wise investment decisions. Huber lists the way your brain is killing your portfolio, including:
Trading bias. The kind of investor you are can greatly taint your ability to succeed at investing. Bargain-hunting investors, looking for stock deals, tend to buy stocks too early, Huber says. But right when the stocks start to get cooking, and real gains are yet to come, these value investors sell too early, leaving gains on the table. Similarly, growth investors looking for the next big thing often buy too late, once stocks have already rocketed higher, he says. These growth investors might enjoy some of the stock's ride up, but then hold on too long and let those gains slip away.
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Huber's chart below illustrates how growth and value investors miss out on gains by making two timing mistakes: