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One of the most difficult investment responsibilities to
carry out is: when to sell a security. In fact, to successfully sell
a security, one must be objective, unemotional and extremely disciplined.
Taking profits, today, in this very volatile, emotional
and frenetic market place is extraordinarily difficult with many resource
companies doubling and tripling in price. Clearly, greed is diffusing
throughout the equity markets via IPO's, resource company investments and
cocktail party chatter. Overall, it is our view that we must be extremely
diligent at this time. We must constantly review our investment portfolios
to liquidate inordinately overvalued holdings which are no longer appropriate
for our longer term objectives. |
