NSRGY, KO, DE, COSWF -
I had to sell my long held position in Nestle today. I have held those since 2003/2004 in a German brokerage account and that account was cancelled, because they don't do business with US persons any more. No German brokerage (that i know if will), so i had no choice but to sell the account down.
I also held some KSB3.DE, HEN.DE and Nestle of course and pay LT taxes which sucks. The reason that german brokerages won't do business any more is that banks are getting more and more harassed by the IRS And who knows what else, if they have Customers living in the US. I saw this coming and contacted several German brokerage but none would want to have me. I have hoped that they would keep me as a grandfathered customer of more than 20 years, but no luck.
I have pondered on what to do with the funds and decided that NSRGY is a little expensive to buy, so i settled on KO (which is also better dividend taxation wise) and instead of KSB.DE, i'll buy some DE.
I started out with small buys today (KO@37.22$ and DE at 82.07$) and will buy more once the brokerage funds are transferred (valuations permitting).
Also, unrelated to above, i bought back part of my sold down COSWF position. @19.1$I have changed my opinion on the latter, since i noticed that Exxon (via IMO sub) will be running operations, which in the long run will be good for COSWF (IMO's annual report presentation has some interesting remarks on that matter). |
