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"That you have lost nothing until you you must hang in there"

I'm not sure to whom you're giving this advice, but however well intended, I can't agree with your thesis. Whether you recognize the diminished value of a stock by selling it, and perhaps taking a tax loss, or hanging on to it, it is worth exactly the same amount. The loss has really occurred and it's only a matter of admitting it.

Holding onto a company through thick and thin has worked for many investors during protracted bull markets, but can be dangerous when the market heads down, as it surely must cyclically. Your experience was very fortunate and has its counterparts in a number of other legendary stocks, but there are many more names that have disappeared from the boards during the same period. Every investment has to be monitored and re-evaluated periodically.
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