Brad and I have been friends for 3 or 4 years, and a while back he asked me about one of his profitable stock positions. Brad had accumulated a huge profit in one particular stock. But he didn't want to sell his shares and trigger a tax liability.
After listening to my advice to take some profits off the table, Brad decided not to protect his gains.
As you probably guessed, Brad watched in frustration as the stock price quickly started heading lower…
He didn't wind up having to pay much in taxes, but he lost over $200,000 in gains that would have helped fund his new business venture.
The moral of the story — don't be like Brad!!
A Profitable Position Meets a New Challenge
For several months now, I've been pounding the table on the U.S. housing market. Home prices have been trending higher thanks to strong demand for new homes.