PA360 North: Advisers urged to stay disciplined and let go of underperforming funds

Speaking yesterday (1 October) at PA360 North, Cliff told delegates to "remain disciplined and let go of the funds that are no longer adding value, whilst at the same time let your winners run". He urged advisers to avoid the common pitfall of holding on to losing investments and selling successful ones too soon. "What we tend to do is run the losers and cut the winners. We're making bad investment decisions." Cliff also touched on the psychological biases that often lead to poor decision-making. "We feel losses more than we feel gains," he explained. Comparing investing to a triat...