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Stop Chasing A Declining Market

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Whether in the stock market, commodities market, currency market, or real estate, chasing a declining market is a bad idea financially and psychologically. If you’ve ever sold a house using the old-fashioned real estate business model, you’re probably quite aware of what we’re talking about. You and the real estate agent (mostly the agent) set a price for your house. It doesn’t sell immediately, though it might be attracting a few lowball bids. Eventually you bite the bullet and lower the price because the market seems determined to not support the asking price.

But you’re still getting lowball offers – maybe even lower now because they seem determined to undermine your price by a certain percentage no matter how low you go. So you cut the price again. And again. And maybe even again. This nerve-wracking process can easily play out over the course...