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The Right (and Wrong) Times to Sell Your Long-Held Stock If you're looking to sell, do a review of this convenient list to confirm you're making the right decision.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Phil Town details a few instances where it is a good -- or bad -- idea to sell a long-held stock.

According to Warren Buffet, the most ideal investment is one which you can hold onto and watch grow for an infinite amount of time, building your money over long durations of time. However, if you are considering selling a stock -- these are a few times where it is very wise to sell. For one, if a company has changed its company story, especially one that seemed to be the crux of its identity, it could be time to move on.

Town also recommends selling when you are presented with a better opportunity. Even if your current stock has not reached its full potential, it may be wise decision to try for bigger returns with a surpremely promising opportunity.

According to Town, the times not to sell a stock include when prices drop, which is a move that displays short-sightedness. Also, look to gut-check yourself when you are selling a stock out of fear. Fear is one of the worst motivators, explains Town.

Click play to hear more about holding and selling your stocks.

Related: Why You Should Spend More Money and Avoid Savings Accounts

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

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