Investing is often counter-intuitive. For example, as an investment performs well, it generally becomes less attractive, not more so, as its future return potential diminishes. Conversely, as an investment performs poorly, its future return potential usually increases. Of course, there are many exceptions, including an investment that is fundamentally flawed to begin with. Even so, investors would do well to remember this conceptual framework, and to avoid chasing winners or selling losing investments based solely on past returns.