Subject: Re: Dividends
Over 10 or 20 or 40 years or whatever, the average valuation level you get on stuff you sell is going to be pretty average. Sometimes lucky, sometimes not, all comes out in the wash.
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Nope.


You think one's periodic stock sales over the next few decades can be at an average valuation level that is materially different from the average valuation the underlying portfolio sees over that time frame? Why so?
Unless one *plans* to sell in some future panic for some reason, they are almost by definition going to be the same within rounding error, no?

Jim