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a security should be sold if the after-tax proceeds from a sale can be reinvested in another opportunity that has a high probability of achieving better long term returns

this theory is workable for an investor who is a life assurance company that has sold nothing but whole life policies to people under 30. If you are a normal consumer person who has hunger, likes to bestow jewelry on his female companion and has other needs that are not discussed by Ben Graham, you should not look to your executor for posthumous enrichment.

<b<G H U
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