1. When a good investment process leads you to an idea, do all the work up-front and size it appropriately.
2. It can often be a good idea to wait for the next earnings report before selling.
3. Don’t just focus on whether a name has been a big winner/loser for you when deciding to sell. Past performance is not a predictor of future returns.
4.Value investors beware, funds that score higher on value appear to underperform most in selling.
Even highly skilled managers mentally overweight “buying” and underweight “selling”, leaving them open to a range of unproductive heuristics when deciding to unload a position....