It's crazy for me to say this (again) but I just sold some more of my Disney (DIS) shares.

For years, while I accumulated a large Disney position, I assumed that I would be holding onto every single share that I was buying for the rest of my life. Over the years here at Seeking Alpha, I've been a noted Disney bull. I've written 22 articles about Disney here. The first 20 of them were bullish. However, things changed a bit for me a bit in 2019 and 2020 and now my most recent two involve sale notifications.

My love for my Disney shares was tainted twice late last year. When we saw Disney rally so hard on the launch of Disney+ and the valuation appeared to rise to irrational levels. As a value investor, this was concerning for me (seeing multiple expansion in the face of negative EPS growth is always a scary thing for me). Furthermore, when management announced that it was freezing its dividend late last year, the company no longer fit the definition of a dividend growth stock.

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