05-21-2018, 11:53 AM
All fair points, thanks. I definitely don't sell lightly, and in this case it is not just about the current price. I hold plenty of things that look overvalued. But I'm also refocusing on what I want out of my portfolio, and am going to be emphasizing quality and core DG positions. And to my eye, DE just doesn't fit the bill. I want less exposure to cyclical / industrial names, and though the dividend might increase over time, there won't likely be much regularity or predictability to it. I'm not as optimistic about their earnings, and so the valuation looks rich to me, and so seems like the right time for me to get out. But differences of opinion is how we get a market!