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It seems that the whole argument started in post #13125 might revolve around a "definition" for Long Term Buy and Hold.

Here's how I would define it:

LTBH is an investment philosophy in which one endeavors to select stocks that almost never have to be sold--stocks that can be held 5 years, ten years, even longer. This does not mean that once a stock is selected, one must hold it through thick and thin even if it is realized that a mistake has been made, or if the company's fundamentals show material decline. This is not to say that I would sell if a general market downturn (a bear market) causes a decline in stock prices. This IS to say that I might sell if I believe that the stock's price has declined for reasons specific to that particular stock.

So, in keeping with this philosophy, I TRY to pick stocks I don't have to sell for many years. If I fail, I might still find it prudent to sell even if the stock has only been held for a short period of time. (But, if I find that I am doing this often, I should definitely re-evaluate my stock picking methods)

I'd be very interested to know how others view this same question. How do you define LTBH? Any and all comments welcome.

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