The correction will come and I have questions

[Harmony Management]

I am like Birdienum, the higher it goes, the more questions I ask myself. I would not want my shrink and my fears to prevail over my long-term annuity strategy. I was lucky enough to invest in many companies with growing dividends in the years 2008-2010 when valuations were very attractive. I hope, like you, for a correction in order to improve my current and future annuity while knowing that no one can predict what the markets will do, the DJ and the SP500 could be 30% higher than today in 2 years. I am therefore addressing future annuitants who are specialists in this type of investment. If one day, the valuations of these highly sought-after companies today reached levels much higher than today, as in 1998-2000 when KO for example and many others were, it seems to me, overvalued, would you sell the majority of your portfolio, "destroying" at the same time your work of many years? Or if the companies you own, although extremely overvalued, still have a competitive advantage, an ever-increasing dividend and an interesting distribution ratio, would you keep them despite stratospheric valuations, even if it meant finding yourself with the same shares 10 years later that have not moved, after having fallen significantly in the meantime, their dividend having increased, which seems sufficient to you. Thank you for your answers.

[Jerome]

You already know my answer. I moved your message, as did the others. Please reserve the topic "portfolio presentation" for what it is intended for.

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