There was a time when I owned Mastercard, which is a great company that just does its things—execute, grow, and compound. It’s painful to think about it so I’m not going to tell you when I sold it but if you pull up the price chart of Mastercard, it’s pretty much a stupid move to have sold at any point in time. This brings me to what I refer to as the "itchy backside syndrome," a condition where investors—myself especially—feel like I need to take action when nothing should be done. At the time, Mastercard's valuation seemed steep, and I rationalized that reallocating funds to 'cheaper' stocks...
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