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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: reno4 who wrote (44516)	9/22/2011 10:41:48 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78665

There are two answers to that: - Yes, you should have taken profits if your positions went from being undervalued in 2009 to being overvalued in 2011. "Buy and hold" does not mean "buy and hold forever". At least not in my mind. - Alternatively, if you really believe in Buffett's maxim of selling never - although he does not believe in it himself and sells all the time - you should have invested in companies with such a moat and competitive advantage that after current crash and eventual recovery they will reach much higher prices than they have reached in spring 2011. There are very very few companies with such characteristics, so you have to be very picky. But they are there. Personally, I go with the first approach and hope that I may snag couple companies of the second approach by chance.