After sitting on the sidelines for weeks, you finally take the plunge. That was last Friday. Come today, you are again fearful. The market is falling, Brazil can't play football anymore, and you're losing money. It's not pleasant.
Fear turns to panic.
You sell, cut your losses, and go back to backing nags at the Chepstow races. Emotion, and short termism, has taken control of you. If this typifies you, although we don't suggest you gamble your kid's inheritance at the betting shop, the stock market is not the place to invest your hard earned cash. It is on days like this that the Foolish long-term mantra is actually reinforced. We weren't selling shares during the last downturn, and we won't be doing so this time either.