Hello, My aim is to make my portfolio (significantly) better each year, so I actually "enjoy" dropping about 1/4 of my names annually. I don't see these dropped names as a complete waste of money and time, because: 1. I hopefully learned something on the way. The names were potential sale items, but maybe not competitive enough or maybe not fairly priced?! Also, market trends changes and honestly, sometimes I buy ridiculous names. 2. I can make the portfolio better with replacing the drop with a better name, without making it larger and more costly to own. Any thoughts on this? How do you reason?