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Terrance Odean
Terrance Odean
Professor of banking and finance, University of California, Berkeley

Try to take your mind off the market. Go to the beach or, if you are so unfortunate as to live on the East Coast or in the Midwest, go to a movie. Dashiell Hammett might help. (The last time I needed an escape from financial worries, I read three Hammett novels in quick succession.)

If you still can't get respite, your exposure to stocks is probably larger than your emotional capacity for risk. Hang on for a couple of weeks and when your emotions and the markets have settled down, discuss with some knowledgeable person how you might restructure your portfolio.

NEXT: Meir Statman

Last updated April 28 2008: 1:20 PM ET

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