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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (2064)10/2/1997 3:02:00 PM
From: Ron Bower   of 78661
 
Paul,

Been refraining from making responses except to direct questions since my last post to you. You asked me for a 'war story' and I impulsively sallied forth with bravado regaling you with my successes.
I apologise.

I post now because you have promoted long term investing. I would like to know when YOU would sell a stock? Example: A week or so ago you bought WBB @ +/- 19.375. It is now at $21.5625 and shows indications of continuing up. With no news, no earnings report, where would you decide to take profits rather than hold? Would you sell all or a portion at that level? Where would you bail completely? What criteria would you use?

I find myself too often selling before the top. I try to sell when it reaches a price where I feel is over value. By doing this, I often end up watching the stock continue up. If I decide to hold, the stock has a tendency to stagnate at that level.
Buying good stocks hasn't been my problem. It's knowing when to sell.

Also, how much weight do you put to historical performance? You seem to prefer companies with a history of profits and growth.

You tout the performance of others, but you make a great mentor. Kept me from making some mistakes and helped me to make some money.
Don't get big headed - others are on my list -g-.

Thanx,
Ron
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