the silent majority, page-19

Why would anyone keep this one if they had been holding right through the yearly TH? Take what's left and move on. Long term holders should have had the discipline to cut the loss ages ago instead of believing a dangling juicy carrot. There is always a first lesson to learn;

Market is random
Never exposed more than what you can afford to lose
Research does not guarantee success
Diversify portfolio

Just a few of the early lessons most investors will learn along the journey but I reckon the biggest issue is the "Research" one attaches to one's stock picking skill that is usually the destroyer of wealth couple with a "long term" hold. When in doubt or underwater most investors automatically think holding long term is the comforting answer. Sorry for being patronizing, victim of my own journey.