Emotion 1 – You watch a stock moving up. Curiosity

Emotion 2 – You watch its continued rise. Anticipation

Emotion 3 – You make the buy hoping for gain. Greed

Emotion 4 – The stock price remains fairly level. Impatience

Emotion 5 – Then what happens? The stock goes down. Concern

Emotion 6 – It continues to go down. Fear

Emotion 7 – It drops below the purchase price. Panic

Emotion 8 – You sell. Relief

Emotion 9 – The stock price soars, justifying your initial purchase. Anger

Emotion 10 – The stock rises higher than the price you paid. Anticipation

Emotion 11 – You repurchase the stock at its new high. Greed

Observation: The goal of professional money management is to mitigate a major impediment to successful investing . . . Emotion.