Author Topic: Keep, Sell, or Tax Harvest? (FCX & ABX)  (Read 1239 times)

jwilliams0215

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Keep, Sell, or Tax Harvest? (FCX & ABX)
« on: June 05, 2015, 11:05:14 AM »
Without conducting a full case study, I'm curious how you guys would handle this situation?

Scenario:
A) Just sold a nice amount of my employer stock give concentration risk here (~ from 8% of portfolio to 3%). This will generate Capital Gains of somewhere above $8K which I have the potential to offset somewhat.
B) Pre-mustachian days and significant index investing, I followed a co-workers advice (ha) and bought Barrick Gold- ABX, (primarily a gold miner) and Freeport-McMoRan- FCX (natural resources company - oil & gas / copper / etc). They're currently at about a 40% to 50% loss (both held over a year), but don't represent a meaningful amount of my portfolio - less than 2%.

Would you sell these and replace with like ETF's (say a Gold Miner's ETF, GDX, as a replacement for Barrick and something like CU (solely focused on Copper) for Freeport? The goal here would be to find a similar performer at a discount similar to the loss on ABX & FCX, harvesting those taxes losses to help offset the capital gains. Of course, these could simply be sold or kept in the portfolio as is given their lack of materiality to the portfolio.

Thoughts?


 

upontheridge

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Re: Keep, Sell, or Tax Harvest? (FCX & ABX)
« Reply #1 on: November 18, 2015, 08:55:34 AM »
I own FCX plan to sell FXC for a loss and buy CU before year end to offset some capital gains. I will probably move back into FCX after the 30 day wash sale rule time period.