I’ve been investing in ASX stocks for thirty years. I’m 60 now....

I’ve been investing in ASX stocks for thirty years. I’m 60 now. I’ve done ok, not brilliantly. Have owned about 60 stocks in my time. Never had more than 25, currently have 15. Had some nice successes, and my fair share of disasters.

If I had my time again, there’s one thing I’d do differently. I would try to never sell anything, ever. And particularly, never sell anything just because it’s had a good run, or I think the price is now too high.

I’ve managed to sell a few that proved a good decision. But several times I was satisfied with a “two or three bagger” and missed out on “five to ten baggers” as a result. Missed out on chances to really transform my financial situation. Specifically, I sold CSL, RMD, RHC, among others, to “lock in a nice profit”. They are each now about 400% higher than what I sold at “locking in my profit”. I also sold a range of other stocks that have also gone on considerably further after an initial good run.

My advice to those folks holding WDS now and considering reducing or selling is…don’t do it unless you have to. I’m convinced, from my long experience, that you’ll do better holding onto quality stocks forever than trying to time entries and exits. Your “big winners” will more than offset those you get stuck with and wish you had offloaded. That’s been my experience, anyway. This time, I’m hanging onto my WDS (and everything else)…forever.