Taking profits on "overvalued" long term holds
I established a portfolio of long-term compounder stocks that represented value at the time (2023/2024) with the intention of holding them forever. However, due to the AI buildout, several of these stocks have appreciated to the point I cannot justify their valuation:
AMAT, LRCX, KLAC, ASML, MRVL, AMD
(To be clear, there are also stocks in the basket that have lost much money, like UNH...)
My general philosophy has been to trim lightly as they've moved up. They're up so much now I am wondering if I should liquidate 50-75% or more of these positions. However, I am reading in other threads things like don't trim "when the stock is a compounder, which can rise for decades". I do think these are stocks that will be much higher decades from now, but also they could crash and not rise for many years.
What is your philosophy around a situation like this?