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Why I Reduced Restoration Hardware Position

|Includes:Restoration Hardware (RH)

It looks like I found this stock too late. I like the stores, I'm sure that they sell stuff appealing to rich home owners. But there is a small problem. There is nothing unique in the stores. OK, they recover, restore and sell beautiful (and not so much, but beauty is in the eye of the beholder) pieces of hardware for home decoration. But... Last Saturday I went to Home and Garden show. There were a lot of companies selling restored hardware. Granted, they don't have variety of Restoration Hardware (NYSE:RH) stores. But it's just a matter of time.

Another problem: one of the reasons I bought the stock in the first place was the fact that CEO was Italian. Well, that CEO is gone.

I am not sure I want to close the whole position. I might as well be wrong. I am thinking about it.

Disclosure: I am long RH.

Additional disclosure: Positions can change any time.

Stocks: RH