Quote of the day by Fred C. Kelly: "Vanity makes men sell good stocks and keep poor ones in times of distress. They don’t mind disposing of gilt-edged stocks which show a profit — the very ones which might finally make up the losses on others"

Fred C. Kelly highlights a common investing mistake: selling profitable, high-quality stocks during market distress while holding losing investments. The observation underscores how fear, regret and attachment to purchase prices can override fundamentals, making disciplined portfolio reassessment essential during volatile periods.