Long and sold some lastweekTo all,
I basically agree with all your comments on capital loss and paying taxes.
As mentionned I sold 17% of my position, kept the other 83% and still long. The main thing about selling some at the lowest point is to get rid of a good part of my 2011 capital gains. At the same time, I still beleive YLO will get out of this hole the're in. Though I seriously wonder what I don't see that many others are seeing. It's a balance of reducing my exposure, also keeping a still important position (remember the 83%) and going for other opportunities that paid me really well in the past when played correctly.
That may not be the best way to go but an individual's situation is also unique. I think I did pretty well in the past. I don't have any accrued capital loss. I paid a lot of taxes in 2010 and I'm happy with it. Overall it's a matter of balance for me between my belief of YLO coming back and other opportunities that I want to take advantage. Now, if I wait too long for YLO to come back, I might not be able to get the other opportunities. If I truly beleived YLO was cooked, I'd have sold 100%.
I thought of sharing this, it sure made people react. I think it is good food for thought on this board. On top of that, it is at least better than some of the bashing going on.
Sorry for the delay to respond, I was in Ottawa for my daughter's graduation ceremony at UofO. It was a long drive.
Thanks to all for your comments. Keep up with the good work, I enjoy reading this board.
Note: I only have dividend paying stocks in my portfolio.
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