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Be a Dividend Millionaire: A Proven, Low-Risk Approach That Will Generate Income for the Long Term by Paul Rubillo

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6. Selling Is a Virtue

Learn to Sell or Risk Losing Everything

When you ask stock investors if they have the discipline it takes to make money on a consistent basis, without fail you’ll be greeted with a quick “Yes.” When faced with losing positions, however, we often see evidence to the contrary.

Remember the case of my relative that watched his Qualcomm profits disappear because of his stubbornness of not wanting to sell? He couldn’t bring himself to push the Sell button because he felt guilty that he could have sold at $600 and selling at $525 was a bad move. Eventually the stock dropped all the way back down and the short-term $30,000 capital gains profits turned into a $60,000 long-term write-off. Every day, many investors face similar ...

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