My siblings and I inherited some stock from our dad and we all have different ideas about when to sell, but I think we're all just picking arbitrary price targets based on round numbers instead of actually analyzing what the company is worth or what we need the money for.
More people experience this than they realize.
You're using mental shortcuts and round number anchoring instead of developing a rational investment strategy based on actual needs and analysis.
“Where Are You with Behavioral economics — biases in financial decisions?”
If this sounds familiar, the Library can help you find the bigger picture.