09/09/2026
Not every decline in share price is a reason to sell.
For us, the more important question is whether something has changed in the business or in the investment thesis.
Price matters, but price alone does not determine whether we continue owning a company.
In FAQ #2, we explain how we think about stop losses in our long-term equity investments, when we would consider reducing or exiting a position, and why our options strategies follow a separate set of risk-management rules.
How do you think about stop losses in long-term investing? Let us know in the comments.
๐๐ช๐ด๐ค๐ญ๐ข๐ช๐ฎ๐ฆ๐ณ: ๐๐ฐ๐ณ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ๐ข๐ญ ๐ฑ๐ถ๐ณ๐ฑ๐ฐ๐ด๐ฆ๐ด ๐ฐ๐ฏ๐ญ๐บ. ๐๐ฉ๐ช๐ด ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ช๐ฏ๐ท๐ฆ๐ด๐ต๐ฎ๐ฆ๐ฏ๐ต ๐ข๐ฅ๐ท๐ช๐ค๐ฆ. ๐๐ฏ๐ท๐ฆ๐ด๐ต๐ช๐ฏ๐จ ๐ช๐ฏ๐ท๐ฐ๐ญ๐ท๐ฆ๐ด ๐ณ๐ช๐ด๐ฌ, ๐ช๐ฏ๐ค๐ญ๐ถ๐ฅ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ ๐ฑ๐ฐ๐ด๐ด๐ช๐ฃ๐ญ๐ฆ ๐ญ๐ฐ๐ด๐ด ๐ฐ๐ง ๐ฑ๐ณ๐ช๐ฏ๐ค๐ช๐ฑ๐ข๐ญ.