I hear what you are saying, but I have to say by not selling I have made a considerable amount of profits on EOH and APN and WHL is on its way. I think the trick is to truly understand whats going on in the environment these companies operate in and while they're doing well, one should hold onto them. The problem is that people don't focus on the business but rather the share price and financials which are based on the past, then they fall in love with this and the future sometimes isn't so bright, e.g. resources have so many issues relating to wages, strikes, electricity issues and then they cannot even control their own selling price most of the time, their product is commoditised and lack power for negotiations then when cycles turn it causes issues that result in declines etc, one needs to try to forecast this, understand the market and maybe then one would decide to cut a position which is what you are suggesting or hold onto it, e.g. in the case of what should have happened on EOH, WHL and APN, NPN probably too. I think the problem is about the way investors look at shares, they don't see them as proper companies, but rather as some fluctuating number which they fall in love with. does this make sense?
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