Personal Tax Loss Selling

By Travis Johnson, Stock Gumshoe, December 20, 2011

Just a quick note — as I tried to remind folks to take advantage of some tax loss selling as we close out the year, so I’ve moved a bit in that direction myself. I don’t carry a lot of my individual stock investments in taxable accounts, but there are enough positions in those accounts that I usually do have a few “tax loss” candidates to choose from as the calendar prepares to flip to a new year. Today I closed out of most of my position in Sandstorm Metals and Energy, and my entire position in Gasfrac Energy Services.

I will almost certainly rebuild my Sandstorm Metals position early in the new year, after the waiting period for tax loss harvesting is over, but I may or may not re-purchase Gasfrac — many oil services names are compelling, particularly those that serve the fracking and horizontal drilling areas in the US and Canada, and Gasfrac’s “petrofracking” technology has not yet caught the fancy of the producers to the degree that I hoped when I speculated on that name. I’ve been patient with the company, but this is a “story” stock and the story is whether or not their technology impresses producers enough to spike demand and bring profitability over the next year or two. One never knows what the future will bring, of course, and I will keep both Sandstorm Metals and Gasfrac on my viewscreen for at least a few months.

Personal Capital is an advertiser with Stock Gumshoe, but Travis also uses it every day for his personal accounts and finds it invaluable. Here's what he said: "They offer a great (and genuinely FREE) 'second opinion' for your financial plan, but what I love most is their automated financial dashboard -- it will look at all your assets and debts, tally up your asset allocation, project where you'll be at retirement, and suggest ways to manage risk or improve returns. It's free, I think their free tools are great, and I think it's worth checking out -- you can do so here.
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