Selling Stocks...

At least 10 times the calories are spent analyzing the buy decision in a stock versus the sell decision.  One should have as much of a framework and discipline for selling stocks as for buying them.  there are 5 ways to sell securities:

1.  As soon as you realize you've made a mistake.

2.  Getting tomorrow's prices today.  At times, stocks hit valuations best left for others.

3.  Rebalancing--as a stock gets outsized in a portfolio.  This helps with the initial sale decision.

4.  To make room for a new idea.

5.  When a company's outlook is changing.