Holding a stock is not an act of blind faith. It is not refusing to change one’s mind. It is not averaging down because the stock has fallen. Holding is an active decision. It means asking whether the reason you bought the stock is still valid. Has the price fallen because the market is nervous, or because the company’s economics have weakened? Has the macro shock permanently damaged the business, or only delayed the earnings cycle? Is the company still sitting in a sector where demand, regulation, market structure, or execution capability gives it an edge?