“With our companies, you have to think that you are buying great companies, not trying to grab a few percent of profits. You buy and hold as long as there is good news and the story hasn’t changed. That’s how I think of it, anyway.”
I have to echo this, as an investor my biggest errors have always been selling too early to take profits. It’s a gambler’s mentality, like you are at a blackjack table and just doubled your money, so you put half away to guarantee you break even… because everyone knows the house always wins. But that’s gambling. If you are buying a great company, with an intact story that is executing YOU ARE THE HOUSE.
Thanks to this board I invested in Guardant last year and have nearly tripled my investment thus far. I was really tempted to sell after it doubled, because “house money” and for once resisted because the only things that had changed were the story is getting better. Selling too soon has always been my problem, but thanks to this board I’ve been tempering my worst instincts.