18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,201 Blog Posts

Out With the Old and In With the New

Every hates getting newspapers delivered to their house — because ink on paper is one of the messiest forms of receiving information. Everyone remembers twisting that NYT paper on the train, trying not to disturb the people around you — getting black ink on your hands and onto your neatly pressed and heavily starched white shirt in the process.

The same thought process harangues me with old stale stocks, sitting there doing nothing but taking up space. So today, with the market ripping again to the upside, I decided to clean out my defensive portfolio and start fresh. I sold VZ, TR, CHD, HCP, RTN, SNAP and GE. Sure, some of those fucking stocks are great long term holds. But none of them belong in a trading account and I am ashamed for holding them this long.

The isn’t the time for old man stocks, with fucking shit just flying off the handle. This is when you take everything you’ve got and bet it all on one horse. I won’t actually do that — but you get my sentiment.

I’ve already purchased a handful of better names to replace the old man portfolio that I had constructed. Now I will slowly reallocate the funds back into the market. At the end of the day, naturally, I will select one lucky stock to provide me with wanton profit for the opening session tomorrow.

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