Every decision to sell over the last fifty years has been a bad decision – Josh Brown

This quote, “Every decision to sell over the last fifty years has been a bad decision,” challenges the way many investors think about the markets. It’s not meant to be taken literally but as a powerful reminder of the cost of emotional reactions and short-term thinking.

Markets are designed to grow. They are powered by innovation, human progress, and economic expansion. Over time, these forces create an upward trajectory that has rewarded patient investors. Yet, every downturn, correction, or market crash triggers panic. Investors rush to sell, fearing further losses, only to realize later that they’ve interrupted compounding—the greatest force in wealth creation.

Selling is often driven by fear, not strategy. When markets fall, the headlines scream doom. Emotions take over, and rational thinking takes a backseat. But what investors forget is that every market correction is temporary. Historically, every downturn has been followed by recovery and growth.

Think about this: The Sensex was around 100 in 1979. Today, it’s well over 79,000. Imagine selling in the 1990’s during the Harshad Mehta scam or in 2001 during the dot com crash, or in 2008 during the financial crisis, or even in March 2020 when COVID-19 hit. Those who stayed invested reaped the rewards of resilience. Those who sold often locked in losses and missed the recovery.

This isn’t to say that selling is never appropriate. There are valid reasons—changing goals, rebalancing, or emergencies. But selling out of fear or to “time the market” rarely works. Most investors who try to time their way in and out end up underperforming. This is the ultimate truth. Period.

The real winners in investing are not those who trade frequently but those who Buy and Build. If you don’t know what Buy and Build is, read the post I did a few weeks ago. Before you decide to sell, pause and reflect—am I reacting emotionally, or am I making a deliberate, strategic decision?