Timing of Termination

Careful timing of termination is important.
Timing considerations include:

  • Are the reasons for under performance ones which will self correct or are they more fundamental?
  • Is the value of the portfolio likely to recover in the foreseeable future or is it likely to deteriorate further?
  • Even if the portfolio may recover its value, are there other good reasons for exiting now?
  • Timing of next redemption date?
  • By seeking to change the manager, are we succumbing to rear-window investing?