I was talking to a pal last night about cutting losses. Mars is the planet the rules all cutting and in honor of its direct motion. Related is this video, Step Away From the Corpse.
The concept of cutting your losses is a learned skill rather than something you can reliably leave to human nature. I learned to cut my losses by playing cards as a kid. There are times you’ve got to fold your hand and absorb whatever losses result. You have to train to do this because humans by their nature seem set up to throw good money after bad.
This applies to all situations. Many people won’t leave the casino, be it a stock they are invested in, a relationship, a war they’re waging or an actual casino, even when their losses are staggering.
Evidence of this is all around, from the woman who stays with a man who beats her until he beats her to death to the person or corporation who spends and spends and spends, time and money, trying to win a lawsuit that eventually nets them something insignificant or nothing at all.
In all these cases, there would have been indications that it would be best to quit. But you’re invested, headed in a certain direction, most have a difficult time turning back or changing course. The results are often devastating.
You can see what an important skill this is. Now is a good time to pick this up.
Learn to weigh things, realistically. If you check yourself and find you are barking up the wrong tree, consider cutting your losses and finding a new tree. Because while your back is turned to focus on the wrong tree other opportunities are passing you by, you can be sure of that.
Do you cut your losses?