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To: marginmike who wrote (28338)	4/26/1999 9:12:00 AM
From: Sawtooth	Read Replies (3) \| Respond to of 152472

<<When it is cheap it is unknown. When it is known it is expencive, but thats when the sheep head to pasture. I owned SUNW, NOKIA,MU, and several others when they were dirt cheap. I made a great 150% return and I figured hey this is getting expencive ill find another cheap stock. Then Bingo...the stock I sold would double. P.S. However you never lose money from profit taking!>> Hi, MarginMike. Seems to be something within the human mind that makes the thought of losing paper gains almost unbearable. Arguments about losing an outstanding position and paying current taxes seem to fall on deaf ears when the thought of a loss of part of an unrealized capital gain are present. Certainly seems that the hardest decision is when to sell; when (and what) to buy are a cakewalk. "You never lose money taking a profit" used to be one of my most frequently proffered investment cliche's and a great fallback when I was starting to sweat while looking at all of my, as yet, unrealized gains on a stock. Over the years, I've come to the conclusion that, while true, that famous saying has cost investors mountains of profits that could have been realized had the position been held. All of the successful and experienced investors I know have at least one personal story about reveling over the 100% they made on a stock sale, only to watch it go on to be a ten bagger over the following years (with myriad ups and downs, of course.) I'm rambling now; will stop. I think your post sparked some memories for me. Best. ...Tim