Some investors are very intelligent people, but they seem unable to control their emotions. Frequently, these people buy investments when they feel confident and sell when they feel worried. If there is a surer way to buy high and sell low, we don’t know what it is. Stock prices are typically low when investors are worried, and they’re high when investors feel euphoric. Realistically, buying low and selling high entails buying in periods of fear—sometimes great fear—and selling in periods of confidence and complacency. Many people find this quite hard to do. That’s one good reason why they should seek experienced counsel.