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No. of Recommendations: 1
Although we will invest with an intention to hold for the long term, we will also insist on keeping a solid margin of safety on all Fund holdings. As a result, we will sell any holding that we believe has appreciated beyond its intrinsic value.

Typical optimism. They just assume that they will have to sell if the stock goes up too much.

What if it tanks? Think of it as a buying opportunity?

Remember, these are the guys who, in one of their model portfolios, bought 3COM, watched it double, then watched it tank, and finally sold it for a loss. Well, maybe they have learned, but I doubt it.
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