Far too many investors focus on the "market value" of their holdings. I think it's one of the main reasons most stock market investors lose money.

No business focuses on its inventory's market value -- they buy, put a reasonable markup on it, and then sell when they can. They only address market value when they determine they want to buy or sell. And they restrain their buying and selling (and their fear and/or greed) with a plan. Age is another factor -- you don't want your inventory on hand too long.

Most stock market investors don't view their portfolio as a business. It's a shame; it's more profitable and less stressful that way.

Best,
Phil