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The trick is figuring out when it's time to move on to stronger companies and let the old favorites go.

...or maybe not -- again, see : the 30 stocks originally in this fund were picked in 1935 (and simply followed through mergers, acquisitions, spin-offs, and of course dividend reinvestments), and the selling rules are very simple indeed (suspension of dividend or share price falling below $1.00).

According to the article this simple-minded "hold forever" fund was #1 out of 250 large-cap value funds for performance over the last ten years (I have not independently verified this assertion found in the article), despite a few of the 30 going haywire, most recently Eastman Kodak.

So, the good old "our favorite holding period is forever" stance just might be a simpler "trick" than "figuring out when it's time to move on"...;-).
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