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Vindication

Yesterday, I sold everything that I did not understand when I purchased it. I did this simply because I became aware of my own ignorance. Such ignorance should always be known  before a position is entered into. USO, the position I exited, dropped 25% today. I’m aware I lost a lot of money buying equity in a product I did not understand, but intelligence comes from mistakes. So hopefully I’m a slightly more learned person now. Fortunately I cut my losses before the 25% drop today. I believe USO will probably become delisted in the near future. Super Contango is a real problem and unlikely to go away soon. USO is being restructured to hold more distant future contracts but the losses will not be recovered. In the future, I will thoroughly understand what I purchase. This lesson was costly but hopefully unforgettable.

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