Why I Sold Goldman Sachs

Dec.21.11 | About: Goldman Sachs (GS)

I bought Goldman Sachs (NYSE:GS) in the beginning of 2010. My main idea was that if banksters are crooks and earning big money, I want a piece of action (and it's legal!) Reality interfered. All financials are down (lucky me, got rid of everything else long time ago). It doesn't matter if GS is full of crooks, or management is bad, or it's just bad luck. They lost. I lost with them.

This is not a usual tax related sale. Size of the position and loss I'm taking are not big enough to make any difference. It's a strategic sale. I don't believe in financials right now and I don't want to go into next year with them. Position is closed and forgotten.

Disclosure: No position