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

To: Micah Lance who wrote (57475)	6/30/2016 3:24:24 PM
From: Graham Osborn	Read Replies (2) \| Respond to of 78748

I think it's totally a function of your mental model for value realization and/ or thesis play-out (i.e. "why you bought"). Graham stocks are like ugly ducklings that get their occasional day in the sun, so it behooves you to sell on those days. A growth stock in an early bull trend - maybe you want to hold on for a few years and let the speculative upside mature before you sell. A growth stock in a secular trend - a 10-year holding period might be reasonable. The same applies to bear trends, although timing becomes more important since bear trends are more spiky. All that said, in every case where I've made 30-40% overnight on a security and not sold, I've regretted it. I used to think I was proving myself a "true value investor" for holding out for full value, but I've since realized certain levels of self-denial are unproductive.