Want to invest like Warren Buffett? Always ask yourself this 1 question before buying or selling. via CNBCMakeIt
, "If you aren't willing to own a stock for 10 years, don't even think about owning it for 10 minutes."he wrote: "[…] we made major purchases of Federal Home Loan Mortgage Pfd. and Coca Cola. We expect to hold these securities for a long time. In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever."
Yet, in 2000, he sold his Freddie Mac shares. "We try, therefore, to keep our estimates conservative and to focus on industries where business surprises are unlikely to wreak havoc on owners," Buffett wrote in his. "Even so, we make many mistakes: I'm the fellow, remember, who thought he understood the future economics of trading stamps, textiles, shoes and second-tier department stores.
When you sell, you should be refining how you invest and improving your ability to make better decisions. As a result, your portfolio should improve.It's so easy for investors to get paralyzed when selling, especially when looking at a loss, but all that really matters is that your money is invested as best as it possibly can — and that means constantly assessing your thinking about past investments. Like billionaire Sam Zell once said, "Anytime you don't sell, you buy.
We think, "I'll do it differently next time." The thing is, there is no next time. You don't get a chance to do it over.is an investor and writer covering investing and financial independence. He has been profiled in The New York Times, and his advice has been featured on Business Insider, CNN, Forbes and more. Chris currently lives in Madison, WI. Follow him on Twitter @
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