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NIO Inc. American depositary shares each representing one Class A
Ignoring Sunk Costs
A simple economic concept that would improve investment discussion is to ignore sunk costs. Focus on what 1) matters and 2) you can control. Sunk costs cannot be recovered. However much they matter to you, ignore them. Reallocate all of that time, energy, and capital based on marginal costs and benefits. While the irrelevance of sunk costs to decision-making is rudimentary, it is important to investing. Your own (sunk) cost basis on a given position might be important to you, but it is not something that should impact your decisions.