To Sell or not to sell, page-2

Personally, I would hang on if you are a long term holder. These guys aim to have a portfolio with a low correlation to market. Therefore if the market is running hot, they will not necessarily seek to capture all of that. But they do want to protect on the downside when the market turns. Are they having a tough time of it at present? Yes. Do I think that the business has stretched itself a bit thin in the last couple of years? Yes. But do I still have conviction in the team over the long term? Yes.

I have been an opportunistic holder of ALF in the past, bought it in 2009 when it was cheap, sold in 2014 when it was overpriced. I will probably buy again if the current negative sentiment persists and it gets sufficiently cheap.