I Almost Cried When I Sold TD 😢
I can't believe how hard it was to sell my shares of TD today, a company that I've owned for probably 20 years, maybe more. I know a buy or sell decision shouldn't be emotional, but I've loved owning these shares for so many years, I'll admit, it was hard to hit the sell button.
Ok, so all the drama out of the way, here is a bit of my logic, in no particular order. Not all-encompassing, but some napkin notes.
• My portfolio had become overweighted in financials, so in order to be true to my discipline (which sets an upper limit of 15% in any one equity sector), I needed to move something.
• I own(ed) TD, RY, MFC, HBA, POW and BRK.B in financials. For the record, I don't consider BRK as a true Financial holding. It's so diversified across staples, industrial, energy, tech, etc. that for the purposes of my sector cap, I didn't include it.
• I wanted to maintain overall diversification within the financial space, so I held onto MFC and POW for insurance, wealth management and fintech exposure. Whether it proves to be correct or not, I feel this maintains a better defensive position should the bank sector stumble.
• I feel my recent addition of HBA serves as a nice complement to RY.
• If I was going to give up either TD or RY, under normal circumstances it would be a coin toss, but with recent (and I believe ongoing) problems with TD, I went with fewer headwinds. Only time will tell whether that's the right call.
Now that it's been a few minutes since I pulled the sell trigger, and after having jotted down these notes, I'm over the trauma and am happy with my decision.
PS: I still bank at TD, and don't anticipate changing that. 😁
