Emily Flippen

Let's talk about some good reasons to sell and how long-term investors can create maybe a framework that keeps them from churning, but still leaves room to course correct their portfolio when needed.

Jason, if you had to lay out a short checklist for this is when it's reasonable to consider selling for an average investor, what would be on it for yourself?

I like that.

And you know what?

I didn't consciously use the word framework instead of rules, but now I'm going to be consciously using the word framework instead of rules moving forward.

I think when I think about the mistakes, I see investors always telling me the share price performance is representative of the company performance, right?

Just because the share price for a company has changed doesn't mean that the business fundamentals have changed.

And I think it's important to draw that distinction because selling or buying just because the share price has changed or fallen...

isn't the same thing as reflecting on business performance or your thesis, right?

And a lot of times our timeline is much longer than the people who are driving those ins and outs of the daily markets.

Jeff, last question here.

On a practical level, is there anything that you do that helps keep yourself from over-trading or selling too soon?

I hesitate now to use the word rules after Jason applauded framework, but do you have rules or a framework for yourself?

I feel the same way, Jeff.

And I appreciate both your perspective and Jason's perspective for ourselves here as we head into the Thanksgiving week here in the United States.

It's always nice to have a little slice of humble pie with our turkey.

And I certainly feel like after reflecting on some of these sales and mistakes that I know I have contributed to in my role on a stock advisor as an analyst, it's good to reflect and take some of these lessons.

I hope our listeners are able to take these lessons and use them for their own portfolios as well.

Jeff, Jason, thank you both so much again for joining.

Happy Thanksgiving.