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.
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