I should add regarding "knowing when to take a profit".....
That I usually counter a profit sale with a loss sale.... If there is such an opportunity. THIS IS REALLY ONLY DONE WHEN IN A TAXABLE ACCOUNT....
It keeps the taxes lower on the gain and helps take the sting out of the loss sale.
It would be really nice if every stock pic was a winner but they're not... and knowing when to sell and "retrain" those slacker employees is something that is every bit as hard to know, as it is to know when to take that gain.
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