When a stock that people own is down, they get nervous. They
think about selling.

For a true investor, market prices are just that -- market prices. They are
not well-reasoned appraisals of business value. They are the product of
opinion and emotion and can be way off base. They are there to take
advantage of or ignore, as the case may be.

True investors don't try to time the market. They don't trade stocks.
They don't look for insights from chart patterns or recent market action.
Stop-losses (where traders mechanically look to sell if stocks fall to certain
levels) are not even part of their language.

The investors who understand this live a good life. Not only is their
investment performance better over the long term, they just don't worry as
much. They are secure in their knowledge and their research. They are calm
and reflective, even when the market is turbulent and pulsing with fear.
They spend time away from their computer screens. They sleep well at
night, as the old saying goes.
So are you one of these investors or are you a trader chasing the latest fad?