Loss Aversion Quotes

Rich people play the money game to win. Poor people play the money game to not lose.

The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.

I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.

I'm so afraid of losing something I love that I refuse to love anything

One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.

You wish for something, you've wanted it for years, and you're sure you want it, as long as you know you can't have it. But if all at once it looks as though your wish might come true, you suddenly find yourself wishing you had never wished for any such thing.

Sunk costs? We pay too much attention to them.

Love is scary: it changes; it can go away. That's the part of the risk. I don't want to be scared anymore.

We suffer more … when we fall from a better to a worse situation, than we ever enjoy when we rise from a worse to a better. Security, therefore, is the first and the principal object of prudence.

Risk deters those who see what they could lose. Those focused on the gain see it as a necessary part of their journey, even if the possibility of loss exists.

The worst thing that can happen to a man who gambles is to win

With every choice you risk the life you would have had; with every decision, you lose it.

People will do more to avoid pain than they will do to gain pleasure.

My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade.

I've been in Vegas. That's where you get into the money thing. Boy, you get greedy in Vegas, you know. That's the only place that you can bet $25, get it up to $500 and refuse to quit.

It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.

Everything rational and sensible abandons me when I try to throw out photographs. Time and time again, I hold one over a wastebasket, and then find it impossible to release my fingers and let the picture drop and disappear.

If you personalize losses, you can't trade.

You'll remember every damn loss. But the wins? You don't necessarily remember.

I certainly like to win. But I really hate to lose. So when you think about that, you're always motivated to, 'I don't want to lose the next game. I don't want to lose the next game.'

Fear is all the fear of some loss: "I'm going to lose something." If we declare, and if we know in our hearts, "I already have everything that I need: I have life, I have creativity, I have joy, I have nourishment. I have everything I need," and if we just say, "It doesn't depend on my having a physical body to do it," then everything opens up.

While you're trying to save your face, you're losing your ass.

We lose many things simply out of our fear of losing them.

It's human nature: for most investors, the pain of stocks going down is more tangible than the joy of when they go up. The common impulse is to do something - anything - to minimise the pain.

Whenever we lose, it is a sad day.