I should add that regarding the Buffett concepts in the link I provided, the one I disagree with most strongly is the last one. While I do feel that "sitting tight" on an investment can be wise, the "20 punches on a lifetime investment ticket" makes little sense to me. Not even Buffett himself has limited himself to "20 punches", and considering that initial investments can be later deemed wrong or that the business situation may change in the meantime, why be stuck with some artificial limitation of "20 punches"? I think Buffett wanted a way to suggest that people should concentrate their investments and - as long as the story holds up - hold them for a long time. Good idea there, but the "20 punches" seems silly, an unnecessarily low, artificial limitation, IMO.