The Globe and Mail reports in its Tuesday, April 28, edition that selling winners too soon is a common investment sin. Globe's guest columnist Philip MacKellar writes that normally he would sell half a position when it reached his initial sell target. Sometimes a company recovers and transforms into a growth stock. Mr. MacKellar's experience with Bird Construction illustrates ways to avoid selling winners too soon. He bought Bird at $4.70 in March, 2020. The investment thesis was straightforward. The security was beaten up, but the balance sheet was strong, dilution was not an issue, valuations were low, and the dividend appeared sustainable. Insiders were buying and owned nearly 5 per cent. Margins were increasing. In the years that followed, business prospects improved. Then Bird started a staggering amount of M&A, normally a concern. However, Bird was able to buy peers on the cheap and integrate them successfully. Mr. MacKellar owned 7.5 per cent of the original position as he exited in 2024. He held the stake through 2025. Then, in March of this year, the stock climbed toward $40. He considered selling the remainder as his revised sell target was between $31 and $38. He failed to pull the trigger.