Its interesting to note that the chief reason InBudwetrust did...

Its interesting to note that the chief reason InBudwetrust did not take profits earlier was due to CGT, that was also a main reason amongst BIG shareholders.

I did mention in my Its Over thread a common mistake is to make investment decisions based strictly on tax considerations. Profit on paper is just that (most people would say losses on paper not losses until realised) , it can vanish quite quickly too (I've had that experience, and those who are Equity Story subscribers would also note they would sell when they make enough circa 20% even though its a good stock).

I remember the days when Peter Costello gave out tax incentives for super that made some pensioners sell their homes to park in shares in their super (to take advantage of those tax concessions) just before GFC. It turned out to be a double whammy for them, as their shares tanked and their home values continued to appreciate in the months and years following GFC. People made those decisions on the basis of tax, not the outlook of underlying assets and the drivers affecting them. And positive gearing for property is also better than negative gearing.

Opportunity cost is commonly overlooked as well. If you're holding a share that has eroded in value or at best stayed the same value over say 5 years, you could have had better returns elsewhere if the same money was parked elsewhere earning interest or yield.