
Selling Out
The Memo by Howard Marks
Optimization Models Can't Successfully Dilute Portfolio Actions
The decision to trim positions or to sell out entirely comes down to judgment, like everything else that matters in invest the final word on selling. Most investors try to add value by over and under waiting specific assets and ore through well timed buying and selling. You can try to to returns by engaging in such machinations, but these actions are unlikely to work at best, and can get in the way at worst.
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