Have a clear exit strategy for investments from "summary" of Investing for Dummies by Eric Kevin Tyson
Having a clear exit strategy for your investments is crucial for successful investing. An exit strategy is a plan that outlines how you will sell or liquidate your investments when the time comes. Without a clear exit strategy, you may find yourself holding onto investments longer than necessary, missing out on potential profits or even losing money. There are several reasons why having an exit strategy is important. First, it helps you to stay disciplined and avoid making impulsive decisions based on emotions. By having a predetermined plan in place, you can make rational decisions about when to sell your investments based on predetermined criteria rather than reacting to market fluctuations. Additionally, an exit strategy can help you to manage risk and protect your investment capital. By setting specific targets for when you will sell your investments, you...
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