RE: RE: Long and sold some shares tis weekAs I wrote I sold to reduce capital gain. I want to sell at the lowest price possible, not because I like it, I like to make capital gains as well. I make a living out of capital gains and mostly dividends. I'm in early my 40's and trying to be retired. I have a very active life.
So to put it simply:
1- I don't like to loose money as everybody else.
2- If I do, I try o reduce the pain. As I did with selling ±17% of my position in YLO at the lowest price possible, I can reduce my capital gains AND KEEP as many shares as possible. By doing so at a low price, I can sell less share and achieve the same goal if I still believe in a stock.
3- I always use a tax software to make my decision before making such a move.
4- I always use the proceed of the sell to buy something else that went down as well on a down market. Normally, I end up with the same dividend revenues and avoid the capital gains by SWALLOWING the pill even if I don't like it.
5- I don't necessarily wait till year end to make these moves. I'd rather be the hunter than the prey when SP price goes down by year end because of these capital loss sell off.
6- You don't have to take action with the herd, one can make their own decisions.
Simply wanted to share another viewpoint on the current situation. True I'm helping the shorts. That part, I don't like either. glta
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