i have a serious question,
So far im doing pretty well with my mixed portfolio,long term and short term positions.
one particular position is bothering me a little.
Im down about 10k on YELP I am not in a rush to sell and im not planning on buying more to average up. Its end of the year so for accounting purposes i might want to make some changes.
I believe the market took a huge pounding the past few weeks and it might be a great opportunity to get somewhere in at cheap.
i was thinking of taking the loss for this calendar year and buying IEP at 97 instead, to make up for the 10k loss. i really believe IEP can hit $150 within the next 12-24 months. Analyst have a 12 month target price of $150.
i really like the way IEP handles his business .
Back two months ago when it was trading at $115 i said to myself i should have gotten in cheaper so i was just waiting for a drop. and i believe its the right time to get in.
so far my 2 possible choices are
a) holding on to YELP for a while hopefully they will be bought out very shortly ( maybe PCLN,AMZN,FB...)( i hope not YHOO)
or
b ) taking the loss and buying IEP instead.
I would really love to get your insight.
Pls dont just respond by saying : buy APPL or AMZN instead . why IEP and not something else? unless you come up with something else with a valid explanation.
also,
this position is not necessary long term but not limited to short term either,
looking forward to some of your responses.
thanks in advance.