Hi Jason, your example on the "waste company" above aptly reflect your point. It is not disimilar to my recent experience in losing on a put protection bought a few months earlier expired worthless at the end of September (market was peaking). The impulse then was to bury the loss but the instinct, having evaluated the investment situation then, which justifies a re-set to a new put protection despite the loss (non-attachment!), paid off. Stock markets globally tumbled in October (2014), previous losses were recouped. Support it! Wai-Yee Chen, NeuroInvesting