NEW YORK (TheStreet) -- Investors who went long on gold miners in 2013 have largely regretted their investment. Joining TheStreet's Joe Deaux is Andrew Chanin, co-founder of PureFunds, discussing strategies investors can use to shape up their investments for the end of the year.
Chanin suggested that investors who have stuck with gold miners until now likely believe that the companies (and the yellow metal) will outperform in the long-term.
He noted that many investors would look to be booking some gains heading into year-end, following such a strong year of equity gains.
His proposal was to sell some of the gold miners at a loss to negate some of the booked profits in other stocks. "Repositioning is the name of the game," he said, referring to the nifty tax maneuver.Furthermore, Chanin said that to limit risk, investors could sell positions in individual miners and buy positions in a gold mining ETF. This would give investors a tax benefit, while keeping them exposed to the sector. He added that investors could harvest tax losses in other mining ETFs as well, by selling those positions and buying new positions in different, although similar, ETFs. Chanin concluded that it would be win-win for investors looking at the longer term picture and said he liked the PureFunds ISE Junior Silver ETF (SILJ). -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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