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You have a portfolio of 100 stocks; if they ALL go up you either:

1. did a poor job of diversifying, or
2. are an exceptional stock picker, better than anyone in history

My point is, there's bound to be losers in a portfolio; you take your losses on those and offset the gains from others.

you are correct, nobody intentially buys a loser; but somehow they always end up in the portfolio!

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