When selling accept a lower price


In falling markets the reason people are not able to sell is because of a disease known as “Anchoring”. It is necessary to note that the price as of today is a reality. If you get stuck to some old price which is in your head, you will end up not selling fast enough. Think of the investor in companies like “Silverline”. The price went up from Rs. 25 to Rs. 1300. If you had bought the share at say 1100, then saw it going upto 1300, you would have been thrilled. Now on the way down say you saw the price at 1050…and decided to sell once the price reaches 1100, you would still be waiting! Anchoring is a major problem – both while buying and selling. So if you are selling an asset (house, car, shares, …etc) stop anchoring, accept a lower price and close the deal. Getting the money and going on to the next deal makes much more sense than waiting

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