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If I were him, I would sell it now.......
Germany's economy isn't in such bad shape. Global stock market is pumped up. Global tech is pumped up. Its like 2001 all over again but domain values have increased a lot since then. He should cash out now before the whole thing crashes.
However, some people just don't have any need to sell. Likewise our company has a portfolio and there is just no incentive to sell at any price a certain core holding.
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