When to sell a stock?

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For many investors, dyed-in-the-wool value investors especially, buying a stock is not as simple as inputting a buy order — as in value investors need to have done their research and fundamental analysis, the company ought to have for instance some sort of moat (and be a compounder whose shares are priced reasonably if not cheaply) or be trading at a discount to x variable(s) [e.g. margin of safety via current or tangible assets; resource conversion opportunity], and one must have the capital available to establish a position. Further, how much stock does one buy at first; how much of an order will get filled for a smaller cap company? Although, once a position is established and fully-invested, it ought to be more of an auto-pilot mode in the sense of turn off the “quote machine” and let the company work for you. Continue reading