Know when to cut your losses.
Staying on a sinking ship is irrational behavior and will cause you to lose out in the long run. Cut your losses and admit defeat when necessary.
- Don’t be afraid to admit you made a mistake.
This applies to all areas of life—don’t stay in an abusive relationship or continue on in a job that makes you unhappy. Don’t worry about being perceived as a loser who made terribly stupid investments—it’s more important that you achieve success in the long run.
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