New holiday: Clean Out Your Fridge (Portfolio) Day

Wish my fridge looked like this!!

Who knew? Clean Out Your Fridge Day is today? We may be getting like Italy, which has dozens of holidays, mostly saints’ days. Of course, with their current fiscal troubles, they may be cutting back on those holidays, just as they consider raising retirement ages.

That would have distressed our MIL, of blessed memory, who adored the Italians and never minded the random holidays that seemed to strike the post office on a regular basis.

HT for photo: Queens Buzz.com – Rosario’s Italian Food Store.

But seriously, it’s a good idea to do it once in a while, so why not make it a humorous holiday, like Clean Out Your Fridge Day? Apparently nobody knows how it got started, though some attribute it to a Whirlpool ad campaign from years ago, but who cares?

After you finish cleaning out your refrigerator, how about celebrating a Clean Out Your Portfolio Day? Go through the stats and annual reports of companies you own stock in. You can find theses online here, and see if you can find any rotten tomatoes, moldy cheese that’s not supposed to have mold on it, or desiccated carrots among them.

Sell the losers, maybe increase your holdings on your winners. Winners are those companies you have confidence in and have thoroughly vetted.

Check, using your financial software, to see where you stand capital gains-wise. If you have a big win, you might really want to dump those losers to balance out or at least reduce your tax burden.

However, don’t forget IFO’s Rule #1: Never make a financial move for tax reasons only.

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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