Q&A With Gordon Pape: Is It Time to Cash Out Some Stocks and Take the Profit?
A reader wants to know: Is the stock market just going to keep climbing or is it time to take a profit?
Q – I’m not a speculative investor. The stocks I have are things that I thought had value to them and will still have value even when prices go down. But I’m wondering when or if I should cash out some stocks that has gone way up in value and put it in a bank account in anticipation of the eventual correction? Would this be prudent, or do you think the market is going to keep rising? – Susan D.
A – No market in history has ever just kept rising. There is always a correction at some point. That’s why it’s a good idea to take some gains at times. As the saying goes: “No one ever went broke taking a profit.” – G.P.
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