I just caught my first pin less hand grenade of the year with AFOP, a top 3 position of mine. In times like this, I don’t care to discuss what went wrong or how wrong everyone else is for selling. Wall Street is a fashion show and AFOP is a three piece plaid suit right now, so I am out.
Booking heinous losses in AFOP was coupled with locking in massive gains in ANGI. Finally, I sold out of my largest position, AREX, for a small loss. The point here is to start new. I wasn’t happy with the positions that I had, so I ripped them out and moved on. The only stock of meaning left is GOGO. Part of the issue with taking big positions, 20% stakes, is the other side of that blade. When they work, life is grande. However, when they fail, especially during earnings season, life becomes somewhat difficult, to say the least.
So instead of lamenting over a down position, wondering when to average down, I just decided to sell it all and start fresh.
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you chose ANGI as your stock of the year in RC’s contest. Are you looking for a lower price to re-enter? What’s your time frame for GOGO? Thank you sir.
Selling ANGI had nothing to do with thinking it topped.
Like I said, clean slate.
Buy some $WETF.
it’s at the top of my list
Why?
Ah the ‘Fred Gervin’ three piece plaid suit…
Fly I admire the way you get ruthless with these positions and have the balls to start again. Too often I get emotionally invested in being right or wrong and don’t jettison early enough.
wow those AFOP call buyers also lost big time.