Subject: Re: 100k to 1m in 10 years?
I also don't think buy and hold forever applies anymore (to most). I'm considering mini runways of 5 to 10 years. Unlike Munger if the valuation is stratospheric I probably would sell and recycle into others, I'd have valuation wiggle room so is hopefully only miss out on the last 10% for example before share prices prices plateau or have peaked. I work this out on the basis of projected forward returns, when they start to fall below 10% I start looking elsewhere.