How to Nail Down Your Profits: 20 Questions for a Disciplined Approach
To be successful, an investment must not only be bought well, but also sold right.
Until sale occurs, the apparent outcome is merely a tentative, paper result. A handsome profit can wither at any moment (due to sudden bad news or a market meltdown) until it is actually nailed down.
Properly, much attention is given to studying what to buy, but woefully inadequate energy is devoted to the hold/sell decision. Ironically this is backward, since dollars already invested are at more risk (and so deserve more attention) than cash not yet invested.
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