Realized a big loss -PSEC

Hello, as I promised here yesterday, I have parted with PSEC as follows.

– Sold 700 PSEC shares at my E*Trade account with the loss of $2,112.41

– Sold 500 PSEC shares at my Japanese account with the loss of $1,418.33

In total, I realized $3,530.74 loss. This is a huge loss, given that my projected annual gross dividend income was $14,880 this year before these transactions. $1,200 out of $14,880 was supposed from 1,200 PSEC shares. To make matters worse, I won’t be able to take advantage of these loss against income tax because I need to declare my loss in Japanese yen although I have never converted Japanese yen into US$ or vice versa to execute these transactions. Remember yen has depreciated against US$ for the last four years. For this reason, my loss in yen is estimated at just JPY 134,716, about one third of US$ loss.

Fortunately, I have a well paid day time job, so now I can afford to make a huge loss. What I need to do going forward is never touch this kind of exotic stock.

Disclaimer: dividendsamurai(this blog) is NOT a registered investment adviser, investment professional, brokerage firm or investment company. Readers are advised that information on the website is issued solely for information purposes and not to be construed as an offer or recommendation to buy, hold, or sell any securities. All information, opinions, and analyses included are based on sources believed to be reliable, but no representation or warranty is made concerning accuracy, correctness, timeliness, or appropriateness.

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