Last week, investor Bill Ackman hosted a fireside chat conversation in Omaha in front of a standing room only crowd of 500+ investors.

Ackman was joined onstage by Ryan Israel, his partner and Chief Investment Officer.

During the conversation, an audience member asked Israel a deceptively simple question:
"How do you know when to sell a stock?"

In a sharp, thoughtful reply, he outlined three reasons you sell...

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