Short term capital gains: My Advice. Take this as you may but don’t be afraid of paying ST capital gains taxes. I was fortunate in early 2019 having picked up 400K shares of SHMP in November ‘18. At the height of the run my account had $360K in it and I was planning on paying off the house, early retirement, etc and I definitely didn’t want to pay ST so I didn’t sell. The run stopped, the pps sunk and I fortunately sold on the way down but I left over 100K on the table because I didn’t want to pay ST taxes—stupid!
Then I caught lightening in a bottle a second time and bought SOLI in early March. Come June I was looking at another 300K in my portfolio...but yet again I had dreams and plans and didn’t want to sell for ST gains and/or miss the big run. I again left hundreds of thousands of $ on the table. With SOLI I have more confidence that a much bigger run is coming in 2020. But I still didn’t play it well because I didn’t want to pay ST.
Please, don’t let the fear or dislike of ST capital gains keep you from profits. 60-75% of something is better than 20% of nothing.
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