A great asset is something you would buy and be interested in regardless of if the price is up or down If price is down you are thinking of buying more if price is up you are thinking would be nice to have more but being up isnt the worst thing to happen If you feel bad when price of something drops you dont own a great asset or at least dont understand it The act of investing is to ride with the underlying basis not the price So regardless of what your mind says if price is impacting you then you are tricking yourself into a bias A sign an asset is also not great is if its something you want to buy once and then just hope price goes up If you are speculating thats also fine - i just think most people on CT think they are investing when they are speculating and it causes the wrong action because of wrong base assumptions