Howard:In some ways, it killed me to sell off my NM. I greatly respect AF and her team and I think they are on the right track with NSALI. OTOH, I have made a ton of money along side AF and as an investor in the bonds issued by her companies, so much so that I am semi retiring next month at the age of 40. NM had become a huge position so it was time to sell down and diversify. I still have a large position in NNA, but I am prepared to let some go if it gets up to 5 and will keep lightening up should it continue rising beyond that level. Safety first!You did well jumping into this sector (with judiciously chosen operators) when the market would not give them the time of day. Sometimes I think investing requires more in the way of intestinal fortitude than brains.For me, the bar is now higher before I will commit capital to an individual security. I need diversification more than I need to hit it out of the park, and the markets have run so much that there is likely still money to be made, but it is no longer the fat pitch we had a few years ago.
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