The Hardest Question in Investing: When to Sell.
(June 14th 2021)
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Many say that the hardest decision in investing is deciding when to sell.
On the face of it, one might assume that each of the three core components to an investment decision are equally difficult.
When faced with a buying decision, an investor has tens of thousands of options to choose from when searching for a potential new position for their portfolio.
Should they narrow this down to various buckets (low multiple, high growth, sectors, trends, themes, and so on) then it is quite likely that those tens of thousands become thousands, or perhaps hundreds.
An investor who has some idea of what they are looking for will typically be able to widdle down their full, undisturbed, spectrum of choice relatively quickly.
The reality of investing is, that buying, holding, and selling, are all hard.
Each has its own process, specific to the investor, and each conjures up a great deal of consideration.
For the purpos…