Our Sell Philosophy
We sell a stock if either we think we have made a mistake in our original analysis and we were not aligned with the management or the business value is not growing because of the permanent impairments*
*Permanent impairments occur when a company dissipates a strong financial position without materially improving its long term earnings power; when a company loses its competitive position; when an industry becomes obsolete; or when a management shows signs that it is incompetent, crooked or both.
