Patience is one of the most difficult lessons to apply in the stock market. For every time it seems that an investor should "stick and stay to make it pay", there is an example where bailing on the first sign of danger proves to be the right move. After all, if a stock is careening towards zero, there is no point in hanging around and magnifying your eventual loss.
Still, long-term success in the stock market is still largely predicated on "buy and hold" investing over a number of years. While there are some people who can nimbly jump from idea to idea and produce good results as traders, their numbers are smaller than they claim. What that means is that investors need to have the patience and long-term vision to weather the bumps in the road and hold on to quality names even through the inevitable dips.
To read the complete piece:
http://financialedge.investopedia.com/financial-edge/0810/4-Stocks-You-Never-Should-Have-Sold.aspx
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