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In this video, Phil Town details a few instances where it is a good — or bad — idea to sell a long-held stock.
According to Warren Buffet, the most ideal investment is one which you can hold onto and watch grow for an infinite amount of time, building your money over long durations of time. However, if you are considering selling a stock — these are a few times where it is very wise to sell. For one, if a company has changed its company story, especially one that seemed to be the crux of its identity, it could be time to move on.
Town also recommends selling when you are presented with a better opportunity. Even if your current stock has not reached its full potential, it may be wise decision to try for bigger returns with a surpremely promising opportunity.
According to Town, the times not to sell a stock include when prices drop, which is a move that displays short-sightedness. Also, look to gut-check yourself when you are selling a stock out of fear. Fear is one of the worst motivators, explains Town.
Click play to hear more about holding and selling your stocks.
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