Ney investing

Thoughts on Rebalancing portfolio. The way I see it, there’s 2 extremes in rebalancing a value investors portfolio. 1)      Long term compounders, the buffett approach, you just want them to growth, so maybe do not rebalance them until there’s obviously a better idea. Like buying the entire company. 2)      Special situation, (maybe net nets) graham approach, where the “goal” is clear. I wanted to ask you on your thoughts. Real case story. I own a stock that has grown from 15% position to a little over 50% in a year! But 6 out of 10 positions I have hold, have gone down, like tankers. I still think this winning stock must go up 5x but is obviously not a 12x anymore. So, the question holds, is it time to rebalance? If not now… when? The answer seems to be obvious “do you have something better than 5x?”, but the level of confidence is different, and subjective. Why is subjectivity a part of position sizing? Here is a link https://neyin...

Value Investment Fund, INC.  annual   Letter [1] Quito, Ecuador. 9/27/2020   To the friends and investors of Value Investing Fund, INC.: In our first year, ending September 1 st , 2020, the fund has generated 86.48% in profits.       Ney Torres, Portfolio Manager Value Investing Fund, INC.     Attachments   Here is more information that some may find important: Attachment A - What you should know about the fund Attachment B - Statistical detail of last year Attachment C - Description of positions Attachment D - Thoughts on various issues Attachment E - Others     Attachment A   What you should know about the fund   In each annual letter, I will try to honestly assess the fund's performance, reiterate my core investment philosophy, and share my thoughts on various issues. I share some of the fund's ...