Starhub

[Temperament]

I am kind of puzzle with your statement. Seems like your view is "since i buy low, i can continue be vested". Shouldn't it be based on today price to justify hold or not else you are in the opinion that losing the capital gained does not matter ?

Having bought shares at a lower price, and not selling at a higher price is an investment for the longer term.

A belief that the company is able to generate sustainable dividends and grow its value.

The practice of buy low and sell high is for traders, not a value investor.
Then again how high is high?
That is where some homework needs to be done.

Semcorp Marine is now priced at $3.98 ( or thereabouts). If it was acquired at the price of $2.00 say, 20 years ago, should it be sold, to lock in capital gains?
The opportunity cost of not being invested has to be weighed, no? ( assuming zero holdings after the sale).

In fact, if the belief holds that the company is still sound and the industry is still viable, it may be better to buy even more!

Exactly. Which i am of the view that if current price of starhub makes sense we should continue to invest or more. If the price is out of whack, regardless of entry price, we should sell.

Whatever! Don't we have to take the tendency of share price mean reversion into consideration?