It is said that nobody has ever lost money from selling at a profit. Recently, an investment blogger wrote about a stock he sold after holding it for two years, netting a tidy profit in the process. His post triggered a flurry of comments, mostly congratulatory. The observation got me thinking. Should we, as investors, exchange high fives every time we lock in a profit? Are there really no downsides to taking our money off the table? And if there are, what should be our considerations? Is there a need to sell? The most important question, in my eyes, you should ask is: why are you selling? If the intention was to simply book a profit without any consideration for the future prospects of the business, then we may want to hold off on applauding such a move. The temptation to lock in gains can cause investors to be irrational....