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Would you get back into VGELX?
Old 12-17-2015, 02:31 PM   #1
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Would you get back into VGELX?

So last month I decided to do a little tax loss harvesting to offset dividends and capital gains this year.

I did so by selling Vanguard Energy (VGELX). I added the proceeds to my position in Vanguard Health Care (VGHAX). I've already incurred a bit of a capital gain in the short time the proceeds have been in VGHAX.

Energy was a fund that I considered a long-term holding (>10 years) and only sold it to take advantage of the circumstances - I had planned on a true tax harvesting process in which I got out and got back in just to realize the tax benefits of the loss. It's been more than 30 days, I sold VGELX at 89.84, it closed yesterday at 79.79 and will no doubt be lower today. But part of me is screaming "don't do it".

Would you get back in?
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Old 12-17-2015, 03:07 PM   #2
Recycles dryer sheets
 
Join Date: Mar 2014
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I hold a lot of VGELX....unfortunately.

I am holding my position because I do not need to sell.

FWIW, Cramer says oil stocks are a multi-year short. I don't necessarily follow him, but I know he knows more than me. But, in the end, who knows. There are a lot of reasons to sell it: strengthening dollar, huge reserves, etc. OTOH, many sectors are cyclical. So I would not be surprised to see a bounce-back, but I do not expect it any time soon.

BTW, another article today said banks are betting on the oil sector bouncing back:
http://finance.yahoo.com/news/no-fea...103000000.html
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