I'm typically a buy-and-hold kind of guy. But I'm sitting on 100% gains in CVX and XOM, and it's hard for me to not want to sell and reposition the capital into a dividend/total market ETF.
My original investment thesis was made around diversifying my individual holdings and that the oil majors were undervalued. I was looking at long-term, knowing these companies would be around and that many of them were talking about developing clean-tech and becoming more “green”. (Forward-Looking).
I do see some additional reasons to hold: 1) we are going into summer — gas prices are rising/people will be traveling, 2) global geopolitical issues driving demand up, e.g. war btw Russia/Ukraine
#1/#2 drive demand up and give the oil majors more cash on hand to issue buybacks. These buybacks continue to increase the stock price.
But… sitting on highs that haven't been seen for 8-years, and not taking these gains and rebalancing them into diversified ETFs is hard not to do.
What would you/do you do when faced with large gains that came to you in a shorter window than you were expecting?
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