Bob FraserCFO & Macro Strategist | Data-Driven Investing Expert | Speaker & Author

You’re the Reason You Lose Money

Name: You’re the Reason You Lose Money
Uploaded: 2026-04-29T19:30:04+00:00
Duration: 32 s
Channel: Bob Fraser
Description: In this excerpt, Bob Fraser discusses how investors’ emotions drive poor market timing—selling during market lows and buying during highs—leading to…

29 Apr 2026 · 1 min

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In this excerpt, Bob Fraser discusses how investors’ emotions drive poor market timing—selling during market lows and buying during highs—leading to losses. He shares a personal anecdote about his mother urging him to sell at a market bottom, illustrating the common temptation to act on fear. Fraser argues that limited liquidity can act as a disciplining force, forcing investors to be more deliberate and less reactive, ultimately improving investment outcomes.

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I would argue that's actually a positive. You know, liquidity can be your worst enemy. I remember, you know, my dear old mother when I was a stock trader telling me, Bob, sell everything now, the sky is falling, you know, and it was always at the market bottoms, you know. So we're tempted, right? We're all tempted to sell when everything is— there's nothing but bad news and everything. And that's actually the time to buy. And the same thing, we're tempted to buy when there's nothing but good news, and that's actually the time to sell. So we're not good choosers of when to buy and sell based on our emotions. Our emotions actually mislead us. So I would argue that having a limited liquidity actually helps you be a better investor and be a more disciplined investor.