While most of us can agree on what to look for when buying a fund—good risk-adjusted returns, long manager tenure, etc.—we often part ways on when to sell. Just check out some of the long and lively debates raging on Morningstar's conversation boards.

None of us want to be one of those investors who undermines his or her returns by buying and selling at the wrong times. Yet some situations almost demand that we hit the sell button.

Next: The Fund Loses More than It Should >>