Part II: I’m Winning – What Should I Do?
In Part I, I introduced you to three different investing tribes – the Rabbits, the Assassins and the Hunters – and demonstrated how good execution of a losing idea can not only salvage a losing position but turn it into a winning one.
In Part II we will meet two further gangs of investors, the Raiders and the Connoisseurs. Through them I will endeavour to show you what you should and should not do if you find yourself in the fortunate position of holding a winning stock.
You might think that being in a winning position makes things a lot easier, but it pains me the number of times I have seen professional investors destroy wealth by doing the wrong thing when they are winning. Many are ‘anti-alchemists’, ...