The Importance of Having an Exit Strategy

A lot of people missed out on the move in 2009 and the equities when markets jumped aggressively out of the March lows. You cannot afford to miss those moves when they come along. Once you remove that fear, i.e., you put into place an exit strategy, then you have nothing to fear because if the market does go and turn down, you can get out. So I think having these rules in place gives you confidence and enables you to act and act with confidence. That's very, very important for increase returns over the long term.

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