Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
While my constant harping about my short position on Latin American ETF symbol ILF may seem merely a shameless excuse to post alluring pictures of Sofia Vergara, I assure you, this is not the case. I really, really like this chart. Sofia is just icing on the cake.
Well, today would have been a pretty good day for me, were it not for one (out of about seventy…) positions. Its name is GSIC, and if it were a person, I'd be strangling it right now.
The company was taken over by eBay, bless their hearts, at a 50% premium. This means that I didn't even have a chance; I was forced out of the position at a nasty loss. This is a bear's worst nightmare.
There are a couple of bits of good news is this disgusting scenario:
(1) As always, I spread my positions very thin on individual securities. It represented about half of a single percentage point of my portfolio. So a 50% loss sucks, no doubt about it, but watering it down by that much takes a lot of the pain away.
(2) I ask myself, was it bad analysis or bad luck? I can honestly say it was bad luck. There's nothing in the chart that should have warned me about this, and I simply got unlucky. The way to manage luck, in my opinion, is to spread risk (see point (1)).
Anyway, I was delighted that the market's strength fade away today, but GSIC took that delicious piece of cheesecake served to me today and dropped a stinking dog turd on top of it.
Limelight Networks, one of my longs, is having a particularly good day. I like the handsome pickup in volume recently as well.
My largest long position right now is TLT, the Treasury Bond Fund. I've got a stop at 91.91 and a view for this to get into the upper-90s.