I am in the wonderful position in life that I am successful even though I generally ‘sold too early’.

Bernard Baruch was a financier famous for saying ‘I got rich by selling early’.

We have been in an incredible technology boom since March 2009, so almost every technology stock I have sold and even some of the Unicorns I have invested in, I have sold too early.

I try not to look back.

In the private markets, it is important to me that our funds get ‘back to even’ – meaning return the principal and riding the upside from there. We have been fortunate at Social Leverage to have above average returns even with this strategy and that is what matters to us at our firm.

Fred Wilson covered the topic again in a thread called ‘Early Liquidity Versus Holding‘.

In the public markets, the extra liquidity creates so many more opportunities and scenarios. As I have been more successful in the private markets I have been a little more aggressive letting winners run in the public markets.

There is no right answer, just the right answer for you.