People sell for a number of reasons, many of them good, so I wouldn't be so quick to lightly dismiss their decision to sell.
If you can afford to hang on, thats fantastic and I am one of those who is.
But the biggest mistake in investing is to hang on as the price goes lower and lower on small volume, looking at a bigger and bigger loss each day, until you can't bear it any longer and HAVE to sell for whatever reason.
One important lesson is... an early loss is the best loss.
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