This week I stopped out three losing positions in companies I really like, and it was hard… kinda like breaking up. True, ego is inevitably part of the equation and I hate being wrong, but in this case all three stocks were trading at single digit P/Es, and I really hate walking away from low valuation. The problem is that cheap stocks can always get cheaper… the classic value trap… as opposed to catalyst-driven companies with runway for growth. I love finding businesses changing how we operate, interact and evolve. As a firm believer in the transformative impact of American Ingenuity, this is where I’m concentrating my firepower. I hope the next three stocks I sell are great growth picks accelerating through price targets. Selling a winner isn’t a break-up, it’s a Graduation.