Quote of the day by Daniel Kahneman: "When deciding to sell, people have control over whether to give themselves pleasure or give themselves pain, and they tend to give themselves pleasure. In other words, they tend to sell winners and hang on to losers. It turns out to be a bad idea."

Daniel Kahneman, the Nobel Prize-winning psychologist and pioneer in behavioural economics, highlighted a powerful psychological bias that can influence investment decisions: the tendency to sell stocks that have performed well while holding on to investments that have fallen.

Kahneman described this behaviour as a choice between pleasure and pain. Investors often prefer to lock in gains because selling a profitable investment provides an immediate sense of satisfaction. At the same time, they may avoid selling a losing investment because doing so forces them to acknowledge a loss.