Portfolio Update: New Subtraction (TSLA; September 12, 2013)

Tesla

To get ready for closing, I used today as an opportunity to close out my position in Tesla Motors (TSLA). I sold my last remaining 94 shares for $166.00/share. This transaction will bring in $15,604.

An investment is an investment, and one of the first things they teach you is to not fall in love with any particular stock! Tesla has had an amazing run this year, and I’ve profited tremendously from its rapid ascent, realizing close to $20,000 in profit (before taxes). Although I am still rooting for the company to succeed, I know that I must remain focused on my ultimate objective — financial freedom.

Buying and selling stocks has become somewhat easier as time marches on. I guess I’ve reached the point where I am desensitized enough where I can buy/sell without getting too emotionally invested. Tesla has been my favorite stock (obviously), and was one in particular I wanted to hold for the long-term.

Oh well. Maybe I’ll have another buying opportunity in the future, especially if the market decides to correct. Until then, I’m perfectly content with closing out my position and locking down Rental Property #4. Closing is scheduled for mid-October, and I’m very much looking forward to receiving another income statement. A growing income stream never gets old!

My investment in Tesla was a side-hustle venture on a hyper-growth story… and I made my money. I’m good. Now let’s re-focus on what really matters.

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BidAskDividends
Guest

Congratulations. Always great to close out for a profit…too many people buy high and sell low instead of closing out and reallocating. Goodluck on your 4th property.

FFdividend
Guest

wow congrats on the sell. good luck to you.

Martin
Guest

I agree with you on that “falling in love” item. Once your objective is met, you should liquidate if that was your plan.

As you said Tesla was a hype and good for you that you had a chance to recognize it and run that waive. It may continue in the future or it may be already on the top (see Netflix and its hype). The future will tell. And it helped you to generate cash for your primary task, so there is no problem at all!

Mustachian Acolyte
Guest

Great work, this is fantastic. Here I am reading about vicarious profits, looking forward to having stock purchases and sales be easier and less emotionally fraught. Keep it up.

Evan
Guest

Wow! Why did you get involved in the first place? seems opposite of what you normally do.

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[…] May, I took a gamble on Tesla Motors (TSLA) and ended up making over $20,000 in capital gains. I wish I would have bought Google (GOOG) when it first went public in 2004… and I still wish I […]

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[…] May, I took a gamble on Tesla Motors (TSLA) and ended up making over $20,000 in capital gains. I wish I would have bought Google (GOOG) when it first went public in 2004… and I still wish […]

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[…] weren’t enough to make a noticeable dent. I watched as TSLA climbed from $55/share all the way up to around $166/share. Very solid performance indeed, but with such a minuscule ownership stake, I didn’t reap any […]

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