are you assuming INA will not continue to grow the business in...

are you assuming INA will not continue to grow the business in the next two years?
surely NTA grows with further acqusitions?
income grows with adding developments/acquisitions and achieving adequate IRR?

if you bought the stock purely due to it trading below NTA then I guess you have a reason to sell when it increases in price and trades at NTA

However I bought because INA appear to have found a good business niche that suits the baby boomer retirement phase.

hold for the long term I say. as long as they manage debt and don't grow too fast, I am not a seller.

At times INA will cycle between cheap and expensive, comes own to whether you plant to trade in and out of these cycles however for me I find that I am better at holding on to stocks that have little restriction on growth. AUB, GEM, GXL, ONT are all successfully following an acquisition based growth model. Just look at a chart for each of these and tell me when the right time was to sell - from an investment perspective.

cheers
gosouth