Wednesday, April 2, 2008

TGIC losses

I sold off my TGIC today.

I had thought it was a mortgage business, but didn't realize it was mortgage insurance. Duh. Should have looked closer. My FNM and FMC are doing really well as expected, but this just tanked because they did some serious wobbling this morning so I decided to just take my beating and get out.

Bought: 5.12
Sold: 3.77
Shares: 2% of my portfolio
Loss: -33.30%

Good thing I was watching this one closely. We'll see how it does in the coming days, but I don't think I'll buy into it.

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