Experts don't need to look far to find such mistakes. That strategy proved disastrous. My message would be, admit when you make a mistake. Now the right thing to do is buy the Wells Fargo shares. TGIE is the relief one feels after successfully waiting a year or more to recoup share value.
Trouble is, such waits often prove fruitless.
Typically, the better strategy is to cull the losers from a portfolio by focusing long term on companies with strong fundamentals and market prospects. Finally, when investors engage in herd mentality, they are vulnerable to the same mistake committed by legions of other investors. Their pain might not seem quite so sharp. After all, goes the reasoning, many people made the same poor decision. But the herd mentality runs counter to rational and independent decision-making.