A fixed disposal rule, decided before the price is known
Transfers — this is the real lessonThe part of Schnitzer’s behaviour worth copying is not what he sells, it is when he decided. Seven events, same two windows a year, same ratio, across a stock that went from $170 to $397. He never had to form a view, which means he never had to be right.
You have no blackout calendar and no 10b5-1 regime, so the pre-commitment has to be self-imposed and written down. The Canadian containers that make it concrete: an automatic monthly transfer into TFSA and RRSP room before anything else is allocated; a fixed percentage of any dividend or bonus from the opco routed to a holdco on a set date rather than a judged one; corporate-class funds inside the holdco to control the timing of realised distributions.
THIS WEEK · Write one page: what fraction of company distributions leaves the business, on which two dates a year, into which account. Date it and sign it. The document is the mechanism — a rule you can look up beats a decision you have to make while watching the number.