什么时候卖股票

这是很多人提的问题。我其实也没有答案。但是我有个理解，就是无论什么时候卖都不要和买的成本联系起来。该卖的理由可能有很多，唯一不该用的理由就是“我已经赚钱了”。不然的话，就很容易把好不容易找到的好公司在便宜的价钱就卖了(也会在亏钱时该卖的不卖。）

Source: http://nteswjq.blog.163.com/blog/static/1269981201022741140311/

When to sell a stock

> By Duan Yongping · his NetEase blog (nteswjq.blog.163.com, now closed; read from web archives) · 2010-03-27 · [Original link](http://nteswjq.blog.163.com/blog/static/1269981201022741140311/) ([archived](https://web.archive.org/web/20100401144305/http://nteswjq.blog.163.com:80/blog/static/1269981201022741140311/))

This is a question many people ask.

Actually I don't have an answer either.

But I have an understanding, which is that whenever you sell, don't connect it with your purchase cost.

There may be many reasons to sell; the only reason you shouldn't use is "I've already made money".

Otherwise it's very easy to sell a good company you found with great difficulty at a cheap price (and also not to sell what should be sold when you're losing money).

Buying is the same. There can be many reasons to buy, but what price the stock once reached had better not be your reason to buy.

My standard of judgment is value.

This is also why I could hold NetEase for 8–9 years.

When I first bought NetEase my average price was about 1 dollar (about 0.25 today), and most of what I sold was at around 30–35 (today's price).

During those 8 or 9 years of holding, I was probably tempted by the selling price every day, and this principle is what I used to resist the temptation (actually I did some buying and selling in between, but only a very small part).

My reason for selling was that I needed to switch into GE and Yahoo. So the question of why I sold NetEase has already been answered.

I'll always keep some NetEase stock.