The Upside of a falling Stock Market
https://www.vox.com/2020/3/10/21172090/stock-market-coronavirus
I encourage you to read the above article. It more eloquently describes what I’ve described in the above emails. this is new territory for me… never seen anything this volatile, but I believe this too shall pass.
Since many people are asking, I’m trying to keep you posted real time on what I personally am doing with my excess cash. Today I sold the CRWD positions in my taxable accounts only (not my entire position as I still love the company). I only sold it in the taxable accounts the shares that are at a loss in order to take the tax loss at the end of the year. I used the proceeds of that sale to add to AYX and OKTA today. Due to the “wash sale rule”, I will wait 31 days and then repurchase those CRWD shares. This strategic move allows me to recognize a significant tax benefit at the end of this year for 2020 and offset other gains from earlier sales I made in Jan/Feb 2020, while still recognizing the gains when the market turns around by putting the proceeds of the CRWD sale into AYX and OKTA, which are incredibly attractive to me at these prices. ===>>> As always, please text me separately at ANY TIME if you would like to be removed from this text strand. Happy Friday the 13th and BE WELL out there. It is indeed stressful and chaotic during these times. Hopefully calmer heads will prevail.
PAYC is an example of how quickly the stock prices can rebound and why I’m careful not to sell great companies to try to get back in at the bottom. I might have missed this one. And Happy I picked a little up yesterday! Of course, all the stocks will be very volatile for several weeks or months as we address this virus. Regardless, nice way to end the week…Friday the 13th no less. Have a great weekend. And happy birthday 🥳 to my good friend, Matt… tomorrow.
