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The Asymmetry in Investing, Which Ben Graham Didn't Talk About
There is an asymmetry in investing, where at a certain price, I would not buy a stock, but I wouldn't be wanting to sell it. The more stores they open, the deeper the mode gets because they can amortize their designs over a larger pool. And so while you would not buy Titan at 50 times trailing or 40 times trailing or maybe even 30 times trailing, you should not sell it.