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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (42051)	3/30/2011 7:41:11 PM
From: Jurgis Bekepuris	Read Replies (1) of 78683

Paul, You are right that most of us are trading too much, even the ones who think they follow Buffett. I am definitely guilty in this. On the other hand, it is very very hard to hold a stock that might be MSFT or CVX or whatever that you bought for long term, but which has become overpriced. GOOG or AAPL might be recent examples. Other companies seem cheaper and more attractive and there's the trade. Just to clarify: when you say buy-and-hold for very long time. How do you determine what company qualifies? What price do you buy at (valuation? no valuation at all?)? Do you sell at all and when (valuation? business change?)? How big position you take? The longest I held stock I think was in a company I worked for. Maybe 5-7 years. I sold couple times at pretty high prices, mostly because my options were expiring. The stock is now much lower than where I sold most of it and it's not clear if it will ever recover. So it's not a happy example of buy-and-hold forever. But then it was a tech company, so perhaps it does not qualify. From my pure investment stocks, I think BRK is my longest holding and that's only because Buffett runs it. I will double check what others I have held long.

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