What to do with unmarketable parcels

Struzball · 3 July 2008

Through mergers and demergers and me not seeing letters etc etc.. I've ended up with worthless amounts of shares that aren't worth selling and aren't worth keeping.

Worth $140, $130, $330. Is there a way to dump them and avoid paying $90 brokerage?

explod · 3 July 2008

Struzball said:
Through mergers and demergers and me not seeing letters etc etc.. I've ended up with worthless amounts of shares that aren't worth selling and aren't worth keeping.

Worth $140, $130, $330. Is there a way to dump them and avoid paying $90 brokerage?

Go to one of the big four banks. Open a trading account and brockerage is about $30 average. I usually watch the price action and if the right volume and can time it, I will buy $500 worth then on strength sell them with the remaining others. But real duds are probably best forgotten.

Now I am no expert, there bound to be better ways. A broker may be albe to work out some deal.

strudy · 3 July 2008

Rather than write them off altogether I would pay the $30 brokerage and save what I could and write the losses of against your capital gains at tax time.

I presume you have researched the companies involved? And they are not worth keeping even long term?
If that's the case do what I previously suggested.

white_goodman · 8 July 2008

im in a similar situation, i would personally jsut write them off and put them in the long term basket

nioka · 8 July 2008

Struzball said:
Through mergers and demergers and me not seeing letters etc etc.. I've ended up with worthless amounts of shares that aren't worth selling and aren't worth keeping.

Worth $140, $130, $330. Is there a way to dump them and avoid paying $90 brokerage?

I have had this problem and have used it to advantage. I have traded the shares by buying some more at a good low price and then selling again with the ones held for profit. Did this recently with TASO. when the options I received with an SPP were under the $500 value

reece55 · 8 July 2008

nioka said:
I have had this problem and have used it to advantage. I have traded the shares by buying some more at a good low price and then selling again with the ones held for profit. Did this recently with TASO. when the options I received with an SPP were under the $500 value

Mmmmmmm......... not my style personally, doubling up on the way down is a sure way to blow your dough, but just my .

Personally, for me it's either the bottom drawer or dumping time..... Normally, if the company has an earnings profile but just has been valued too high, I would just stick on to it. If it's a spec, I would just ditch it, chances are heavily weighted that it will be worthless paper in the end.

Cheers

nioka · 8 July 2008

reece55 said:
Mmmmmmm......... not my style personally, doubling up on the way down is a sure way to blow your dough, but just my .

Personally, for me it's either the bottom drawer or dumping time..... Normally, if the company has an earnings profile but just has been valued too high, I would just stick on to it. If it's a spec, I would just ditch it, chances are heavily weighted that it will be worthless paper in the end.

Cheers

If there is usually a fluctuation in daily prices it is easy enough to come out ahead and it does clear the parcel involved.

What to do with unmarketable parcels

Struzball

explod

explod

strudy

white_goodman

BOC

nioka

reece55

nioka

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What to do with unmarketable parcels

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