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Excellent post, ultimatespinach. You make some great points. While my ultimate goal is to find companies that I can buy stock in and put them on cruise control for many years, such as MIDD, I think that I have an itichier trigger finger on the sell button than some people. This can be a positive and a negative. As you mentioned, it saved me from a lot of the pain that Irwin dished out. Another positive example is FMD. Once it became apparent to me that it might be a while, if ever before FMD would be able to securitize another package of loans, the original reason why I bought the company disappeared and it turned into more or less a bank that issues student loans. It may or may not have been a good value at that point, but I didn't care. I had a huge position that I sold out half of at $20 and the other half at around $15. That looks like a wise move today, but there's nothing saying that the company won't eventually bounce back.

I definitely have sold some companies way too early, like Monsanto when its P/E ratio was a million, grumble, grumble...but this strategy enables me to place the companies that I am most comfortable with in my portfolio. If I miss a few winners, which I absolutely hope that China Fire will be for your and the newsletter's sake, so be it.

Have a great weekend.

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