Saturday, December 13, 2014

Peter Cundill on selling too early

From There's Always Something to Do:
This is a recurring problem for most value investors – that tendency to buy and to sell too early. The virtues of patience are severely tested and you get to thinking it’s never going to work and then finally your ship comes home and you’re so relieved that you sell before it’s time. What we ought to do is go off to Bali or some such place and sit in the sun to avoid the temptation to sell too early.