I don't know about you, but I'm going to close a position on Alphabet $GOOGL+0.1% today that I took at $91. It gave me +34% in the short term. I was originally planning on a longer term hold, but what is happening in the markets has nothing to do with healthy growth.

$122.23 $0.09 +0.07%
Capital Structure
Market Cap
Enterpr. Val.

I plan to sell some and keep some.

Totally agree, I unloaded the entire position last Friday with a similar % gain. As soon as (hopefully) the market returns to "normal" I'll jump back in. 👍

I am buying Google for a long term investment and intend to hold on. The fact that it's high now and about to fall off doesn't bother me, but in the long run the price will surely get here again.

I don't know about you, but I bought Google as a great company that is undervalued and I still see it that way, so I have no reason to sell.

Great, we have that in common. I'm just trying to discern when something makes sense to me, in this case growth, and when it's puffery. If it weren't for AI we'd be wading through more distress with misery, and that's a fact, AI is keeping the markets afloat.

If you encounter the current state of the global economy, I guess that's a reason to sell the entire portfolio and wait for the market to behave rationally again? Google is not Nvidia, their revenue streams are completely different. Advertising spending is currently low because companies are cutting back and this won't last forever. In the meantime, Alphabet will keep printing money, it can improve its tools in the fight with the competition and I see no reason why EPS should not grow by 15% in the next 5-10 years. I'm not a trader to take 35% and walk away from the table, if the price drops to 90usd I'll be ready to buy, but I'm not going to count on it, and if they get back to 150 I'll be so upset that I didn't buy more shares and you'll probably have nothing at all and get it at best at a fair price.

I don't know, I've thought about it too, but the interest in AI may well push it up another month/e. This does revive a bit the fear that a bubble is forming.

I'm not refuting you, madness often has no end. It's just that usually every ride ends sometime, and in the investment world it usually hurts when you wake up.