Investment Thesis
Every one-year range of security price is greater than the issue's projected annual price trend, often by more than a multiple of two. That requires some part of the year be spent in price decline. Yet investment accomplishments traditionally are measured by multiple years of a position's holding. Multiple years of holding force taking periods of price loss.
No investor wants to lose an opportunity to gain (fear of missing out, FOMO). But somehow that FOMO fear often overcomes what should be a more damaging fear of accepting the loss required by continuing