Thursday, June 2, 2011

A Triumph of Stubbornness?

I don't know about you, but when I make a good decision I like to THINK it's due to above average intelligence or some unique insight that only I was capable of making.  Of course, once I stop fooling myself I usually realize my good decision came about due to something else entirely - usually luck but in this case stubbornness.

Here's the background - in May of 2010 I purchased 1200 shares of AMN Healthcare at $8 (  Shortly thereafter the stock absolutely plunged, droping as low as $4.14.   Now here's where the stubbornness comes in - rather than hold or sell I dug in my heels and bought more at $4.68 ( 

Today the stock's hovering around its 52-week high so I decided to sell the original 1200 shares (long term capital gain) for $8.54.  I would've sold my whole position but I figured this would be a bad strategy from a tax perspective (since most of my gains have come from the shares I bought at $4.68 and I've held these shares less than a year).

Questions?  Comments?  Email