When to Sell? Look at the HQ

I definitely think there is something to this theory of a company blowing up after it has invested share-owner dollars into creating a new HQ to celebrate the companies growth or a CEOs outsized ego (hey, it happens). There may be the rare exception to this rule as the article below calls like start-ups (see Facebook or Google) that have outgrown their current digs then obviously it will, like a kid hitting their growth spurt outgrowing their clothes, need at least something bigger to fit in and look good. But, I think what the author here is getting at is the underlying, real rationale for building or acquiring these new digs, Often times it seems companies build or acquire new buildings as trophies rather then taking those dollars and investing in research to enable; 1. increased share-owner profit (not sure how a brand new shiny building demonstrates that an executive team is using share-owner dollars wisely. Meaning how does the usage of those dollars increase share-owner value directly), 2. drive the long-term sustainability of the organization and 3. maintain the company as a leader in its industry. Rather moving into new buildings are often times can simply be elements to show off a company (or individuals) success in spite of the adage that success fools even smart people into thinking they can't fail. https://www.wsj.com/articles/when-to-sell-look-at-the-hq-1491768486