On Time in the Market

[ken-do-nim]

(12-12-2021, 12:35 AM)Scooterd Wrote: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” - Warren Buffett

That seems patently ridiculous to me.  Maybe it's because I work in the software industry and we use the Agile Methodology.  In Agile, we have two week "sprints", with a sprint review at the end.  We review how things are going at the review, and make changes as needed.  One of the tenets of Agile is "if you fail, at least fail fast".  

I've gotten out of some positions way too soon this year, but I think that's a lesser sin than staying with an underperformer too long, because chances are, I moved the money to something that did well.

Edit: That said, when I buy a stock, I'm open to the idea of it becoming a long-term position. Maybe that's what Buffet is saying.