Tell him to read #softwar book

That will help him adjust his time preference

That’s really the thing with most investors…they say they are investors and like #investing but their behavior is that of a trader #trading

It all has to do with time preference and alignment of behaviors and this emotions.

Tell him to take a mental picture of how he feels on this down move. Ask him to rate his emotions…

Then when it goes up by the same amount…have him take another mental picture and rate his emotions on the up move…

It won’t feel the same (we bias sensualization on the way down but forget the euphoria on the way up)

If he learns to control that he will be better than 99% of people on earth 😇