Sold VOC

I took a 67% loss on VOC…(vomits)

This was on the books from last year, and I’ve held it now for about 12 months. I’m going to retain HCLP and BAS, but VOC was just too ugly to keep around right now.

I want the tax deductions this year, to start the clean up process. I like VOC but it’s an ugly pure play on oil prices. I would have thought buying this thing after a 50% drop was a pretty safe venture, but really who saw the extent of this fiasco in oil prices?

In November, I’ll take another look at VOC, after the write off is locked in.