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Dump these losers, they aren’t coming back

It is never easy to pull the trigger and sell a losing stock. We want to convince ourselves that we made the smart decision to buy the stock in the first place, and that the recent weakness is a market overreaction and shares will start to recover.

Sometimes patience is a good thing, and weak stocks are able to turn around and fall back in favor with Wall Street, but some time the situation is so dire that there are few, if any, reasons to hang on to current positions, and the better option is to simply take the loss and look for better value elsewhere.

The current year is coming to a close, and while there are still a few months before the end of the year, it is definitely not too early to start to think about selling losing position in order to take advantage of the tax advantages such a move has if the stock is held in a taxable investing account.

2017 has been a pretty good year for investors, and most likely you have locked in some profits along the way that you will be forced to pay taxes on when your file your income taxes next Spring. In order to ease the burden of those gains on your tax filing, you want to take a close look at any position you have that is showing a loss, and consider taking that loss before the end of the year to balance out some of your gains.

Here are five stocks, that if you own, are probably showing some pretty big losses at this point. Consider dumping them now, because they aren’t likely to bounce back any time soon.

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Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.