So when I originally started investing, my biggest early mistake BY FAR was investing heavily in a precious metals mutual fund (TDB648) by an advisor's awful recommendation.
I've done mostly well otherwise but that portion of my portfolio is down about 50%! Anyone in precious metals in the last several years knows this pain.
I've held it since 2011 (the worst time to go in) and I've stuck it out and held it, and even added to it, which is normally good investor behavior. Currently precious metals are sitting at a ~7 year low. But down and down and down it continues to go. Long term forecasts are all over the place, as of course no one really knows what the future holds.
I have learned a lot since then and I am very eager to correct this mistake and get out of sector funds and never get back into them ever again.
I could take the realized loss and convert what's left into my other index funds, which will probably do better in the long run. Or I could wait, for potentially several more years for precious metals to go back up, missing out on years of growth. What to do, what to do
Anyone else in the same boat? Any opinion or perspective on this is appreciated.
I've done mostly well otherwise but that portion of my portfolio is down about 50%! Anyone in precious metals in the last several years knows this pain.
I've held it since 2011 (the worst time to go in) and I've stuck it out and held it, and even added to it, which is normally good investor behavior. Currently precious metals are sitting at a ~7 year low. But down and down and down it continues to go. Long term forecasts are all over the place, as of course no one really knows what the future holds.
I have learned a lot since then and I am very eager to correct this mistake and get out of sector funds and never get back into them ever again.
I could take the realized loss and convert what's left into my other index funds, which will probably do better in the long run. Or I could wait, for potentially several more years for precious metals to go back up, missing out on years of growth. What to do, what to do
Anyone else in the same boat? Any opinion or perspective on this is appreciated.