As an investor I hold various positions. I own 6 big positions and 10 smaller (more wildcards, yet good companies). The fact remains the same: I don’t have to be right about the stock price on every position every year. I just have to be right about the company in a long-term perspective. And not even that, I can even be wrong about the company itself. Like Warren Buffett says, this is not a game of 3 strikes like baseball. I have many more chances. That is why a stock that soars 10X in one year and drops 70% the next says absolutely nothing in the long run. A stock down 50% this year might be the one that pulls my CAGR heavily the next year. 5 of my big positions are up way over 30% each this year, and one big position is down 70%. Stock movement will always be there. Some periods the price will be above intrinsic value and sometimes below. It’s just ebb and flow. Very rarely the stock is values exactly what it should be. My goal is to invest in great companies. But if I try to buy and sell to hit tops and bottoms, I am just trading. Then I am training myself to act in a way that is absolutely counterproductive when it comes to keeping great multibaggers. I try to avoid that at all costs. My superpower is that I never sell. And if a position dies, then I try to extract value from it: what went wrong and how can I learn from it? But I don't sell because of a bad quarter or a bad year. I only sell if the thesis is absolutely, undoubtfully, and completely broken. This mind-set when it comes to selling is something I have learned by one of my favourite investors Mohnish Pabrai. So, I try to buy great companies and hold forever. And if I manage to hit a multibagger, then this is statistically going to bring me much more profit than buying, selling, buying selling etc.