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How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition, 4th Edition by William O'Neil

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CHAPTER 10When You Must Sell and Cut Every Loss . . . without Exception

Now that you’ve learned how and when to buy nothing but the best stocks, it’s time for you to learn how and when to sell them. You’ve probably heard the sports cliché: “The best offense is a strong defense.” The funny thing about clichés is they are usually true: a team that’s all offense and no defense seldom wins the game. In fact, a strong defense can often propel a team to great heights.

During their heyday, when Branch Rickey was president and general manager, the Brooklyn Dodgers typically had good pitching. In the game of baseball, the combination of pitching and fielding represents the defensive side of a team and maybe 70% of the game. It’s almost impossible to win ...

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