Ann: Update - Notification of buy-back - WHC, page-24

Actually, that old saying of never go broke by taking a profit is often incorrect. Not financial advice but here's how the saying can be very unhelpful.

It depends on whether you're taking losses on other investments and whether the profits you keep taking, outweigh the losses before your money goes to near zero.

For example, Mr profit taker has $100k in losses on multiple other shares and 50000 WHC@$1 at a cost of $50k. Had he followed the saying at $2 for a 100% gain of $50k he is still underwater by -$50k on his investing that period.

However, Mr Diamond hands doesn't just sell to take profits but instead, only when the investing thesis is broken. He sells 50,000 shares for $10 instead and makes $450,000 and an overall result of $350,000 up after the other losses. My maths is just rough napkin stuff but you get the idea.

I hope that was interesting team.