Kickstart70 (84.21)

My first sell-at-a-loss

February 27, 2009 – Comments (0) | RELATED TICKERS: RICK , NOOF

Two of my first purchases were RICK and NOOF. As I said before I bought the sector, not the stock and was paying a helfty penalty for doing so (about 24% and 26% respectively).

Today I sold them both, at a loss. Everything else in my portfolio is in very good positive territory. I just got irked whenever I look at my portfolio by these. It wasn't just that I was taking a loss on them, but that I still owned them without really knowing anything about their businesses.

I still kinda like the idea of owning RICK shares. I like the business of adult clubs. I'm not a visitor to them (I was when I was a lot younger), but they serve a need, and I have seen them make money. I've also known (through relatives and acquaintances) some of the dancers.

But NOOF...I decided to go look at their businesses. A failing adult auction site. A couple horrendously designed adult websites. Nothing I saw made me anything other than queasy.

Total loss: About $140CAD. Based on a simple happiness-vs-money equation it was a loss that I can handle.