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Non-Tech : Gentex (GNTX)
GNTX 23.45-0.1%3:59 PM EST
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To: Turs who wrote (154)12/22/1998 1:35:00 PM
From: Turs  Read Replies (2) of 196
 
Finally sold some of my GNTX for the first time ever. I have purchased several times in the past 3 1/2 years, most recently at an avg. of 12 1/2 in Aug/Sept. With a 75% move from there in only 3 months, and a forward P/E of 27, I decided to sell just about 15% of my holdings - got out at $21 3/4 this morning.

All the recent purchases were in my IRA and after making so much in so little time, I decided that with that investment, I had just made the equivalent of 2-3 years worth of return in 3 months. Figured I ought to move some money to the sidelines and wait for another investment opportunity....in GNTX or something else. In my IRA, my second objective after targeting a 25% return is to not lose principal. I figured I could give back maybe 20% from these prices and also figured that a 4% guaranteed return in cash was better than a 10-15% possible return from GNTX over the next year (12/99 target price of $25). Still hold 85% of my original holding and would not look to sell any more of that unless the stock moved over $25 near-term. GNTX is giving you the luxury of 25% annual returns while allowing you to defer taxes on that compounding appreciation. So selling any stock in a taxable account should only be done if you can really save yourself maybe 30-40%. I don't see GNTX pulling back that much from this level.

The golden rule still holds: Cut your losses, let your winners run!

Turs
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