Owen Raszkiewicz

Does that still hold true?

If it doesn't, you can get out.

You can't get out of jail free.

Okay, so there's two reasons that you would make a decision here.

The first is that you have to know your investment thesis in advance.

But there's also an important thing here around valuation and the difference between valuation and prices.

Imagine your house goes up 263% in price.

Imagine it's not a share, imagine it's your house.

Would you sell it just because it's gone up?

The things that you would take into account are, well, it's actually a pretty good house and house prices are going up and I like this for the long term, so I'm going to keep holding it.

You wouldn't sell the house or buy it or make a decision just because of the price.

There has to be some other kind of yardstick.

One of the words of wisdom that I've always got is that

from experts is water your flowers, not your weeds.

You want to water the best companies in your portfolio, the best investments, give them more attention, which is funny because we're taught from a young age by people who think they know what they're doing that buy low, sell high.

But oftentimes the best thing to do is to buy low and then just buy again.

So it really comes back to understanding the company, your reason for owning it, that's your thesis.

If it is broken or even if it has been fulfilled, you might have said, and this might have been very prophetic, you might have sat down and said,

I am buying this company because I want it to go up 263%.

And then it gets to 263%.