A lot of students suddenly panic and message me because their company's earnings were released and it looks "bad". I think this quote is very relevant, “Everyone is a long-term investor until crisis hits. Conviction isn’t proven when share price goes up, it’s proven when it crashes.” You only want your company to produce results that exceed expectations every quarter but you yourself know that you are not perfect... So why demand such a high standard of perfection from your companies? 

Don’t Focus Too Much on the Stock Price

And if you invest by looking at the share price only then don't invest as a value investor in the first place. And if you want to sell because share price drops and you don't know what's happening to your company, then don't invest in that company in the first place. If a stock is falling and you immediately ask, "IS IT A GOOD TIME TO BUY?" or if your stock is rising and you quickly ask, "IS IT A GOOD TIME TO SELL?" then you should not invest in that particular stock in the first place. 

Always Focus On the Company

Always focus on the company when you are doing stock investing. Far too many people start buying a stock based on tips and then hope for the share price to go up. Investment is most intelligent when it is most businesslike. Start thinking about the economics of ownership of those businesses that the stock represents. It's a partial ownership interest in a company. It's a tangible representation of your interest in a particular business. Think like an owner and your decision-making process will be more logical.

Understand The Company Well

As a reasonable investor of great businesses, your understanding and conviction of that company should be so high that when the stock falls, you are excited to buy even more and if the stock rises, you smile and continue to hold because you believe it will get even more valuable for many years to come. Remember that no investor has gotten rich through borrowed conviction and external validation. Remember what Charlie Munger said, "The big money is not in the buying and selling but in the waiting.