Moritz argues investors sell too early by fixating on ‘all-time highs’

What was said

"So the question I always ask people is when somebody says to me, "Well, don't you think we should sell it? It's trading at an all-time high." My question to that person is in the 30 years or so that Amazon has traded as a public company, how many days has that stock traded at an all-time high?"

Discussing long-term holding, Sir Michael Moritz says investors often want to sell when a stock hits an “all-time high”. He says he challenges this by asking how many days Amazon has traded at an all-time high during its decades as a public company, to refocus attention on future compounding rather than past price levels.