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Strategies & Market Trends : Value Investing
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To: Terrapin who wrote (3426)3/3/1998 6:41:00 PM
From: jeffbas  Read Replies (1) of 78534
 
I do not know TYC but I will address your question generally.

If a company's stock becomes materially overpriced by anyone's standard it should be sold, whether or not it is a good company. A good company whose stock has merely become fully priced should be sold if you have a better idea, but not otherwise - since it will probably continue to be good, and recover if there is a price setback. A mediocre company that you bought right but is now fully priced should be sold if you have a better idea, and probably otherwise - because the fact that it is mediocre likely as not means they will do something not so smart again. (That advice probably cost me a million dollars to learn; and I do not follow it enough.)

It sounds like TYC is in the second category above.
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