#1
Selling Discipline
"Sell when a stock reaches fair value or the thesis breaks. Dont fall in love with winners."
Sell when stocks reach fair value or investment thesis breaks.
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John Neff📌 Selling & Review
John Neff's Selling & Review Rules
John B. Neff (September 19, 1931 – June 4, 2019) was an American investor and mutual fund manager. He managed the Vanguard Windsor Fund from 1964 to 1995, achieving an average annual return of 13.7%, outperforming the S&P 500 by over 3% annually for 31 years. Neff was known as a "low P/E investor," consistently seeking undervalued stocks that the...
3 principles·Selling & Review
3 Key Selling & Review Principles
#2
Sell Discipline Rules
"Have clear, pre-defined sell criteria. Sell when: your thesis is broken, valuation is fully realized, or a significantly better opportunity appears."
Follow pre-defined sell criteria without emotion.
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Review Your Investment Thesis
"Regularly review whether your original reasons for owning a stock still hold. If the facts change, change your mind. Holding a broken thesis is the costliest mistake."
Regularly challenge your original investment thesis.
Read Full Analysis →Frequently Asked Questions
What are John Neff's key selling & review principles?
John Neff has 3 key principles on selling & review. The most important one is "Selling Discipline" — Sell when a stock reaches fair value or the thesis breaks.
How does John Neff apply selling & review in practice?
John Neff applies selling & review through several key principles including "Selling Discipline" and "Sell Discipline Rules". These principles guide practical investment decisions and have been tested across decades of market cycles.
What makes John Neff's approach to selling & review unique?
John Neff's approach to selling & review is distinguished by a focus on long-term thinking and fundamental analysis. With 3 specific principles in this area, John Neff provides a comprehensive framework that investors at any level can study and apply to improve their decision-making.
