I have a question of clarification. You've said to sell anything we're ahead on and have cash, which I've done. On the other hand you are recommending different stocks to invest in. So, should I keep cash on hand or use the cash to invest in the recommended stocks?
Correct. I'd encourage you to sell former UWR/AP positions that you're up quite a bit on and to raise your cash levels. However, there are still present pockets of value that we're following in the LI portfolio. So you'd have some money invested in those picks and lots of cash set aside in your account due to the sale of previous positions from the former portfolio. So one should do both, ideally. Having cash to buy values when others don't see them and to average down on them if they drop more and to have cash set aside when others didn't choose to, so that you can buy when bear markets have been going for quite some time are some of the "secret sauces" of investing. It'w what Warren Buffett does and it's what I encourage in my newsletter as well.