Tools
Posted on September 29, 2006 - Filed Under Business |
My ignorance of the stock market is unparalleled. Mastering the "Buy Low, Sell high" concept evaded me. A few years back, I opened up an Ameritrade account. I reasoned that nothing would be learned if I didn’t try. An investment of a couple thousand dollars into the account was made. Armed with my ignorance and a cup of coffee, I cried "Let the education begin!"
Penny-stocks entered my field of vision. These volatile beauties became my favorites after reading Kiyosaki’s discussion on them. While you can really lose your shirt, the upside can be just as great. Research is key when picking these stocks. A few good leads were found: eLoan being one of them. I purchased it at $2.15/share and sold when it hit $3. In true Warren Buffet style I made a few hundred bucks.
Then the houses popped up on the radar. Stock investing went dormant. During this past year, Ameritrade sat stagnate. OK so I’m not perfect. I can sense mOOm removing me off the blog roll.
A few months back, my first issue of Barron’s arrived. It profiled various companies and talked about which ones were performing poorly or were doing well. Also it included which one’s will be doing great.
These profiles immediately caught my attention. Would these companies be all big companies? Or would there be smaller ones. To my surprise, profiles include very large companies to very small companies: stock prices up at $100/share down to $3/share.
Using Barron’s, two companies which fit my penny-stock model (<$10) have surfaced. I’ve googled these same companies. Material was everywhere: periodicals, stock analysis reports, quarterly filings. After a few hours, I decided to go with both. And both have done really well.
For anyone moving down an investing path, I recommend Barron’s. I justified paying the slightly higher price by making myself a promise. This magazine was to be a tool not only to increase my education but to aid me with my assets. So far, it has done both quite nicely. And without sounding like an infomercial, you can too!
Have a great weekend everyone.
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3 Responses to “Tools”
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I’ve had great luck with The Motley Fool at http://www.fool.com. The site is written with the understanding that many of the viewers have jobs other than the stock market and speak a language other than “Wall Street”.
They have advise on the total financial package, from debt reduction to budgeting to investing. The message boards are a great source of information also.
All 30 of the stocks spread out in 4 separate accounts that I own were purchased using Fool information.
My ROI’s range from 68% to -42.4%. Some small cap, some large. From a 8 different sectors.
I like stocks for the extra money I have after bills are paid, and savings (& emergency savings) accounts are fully funded.
It’s well known that Barron’s picks tend to pop on the Monday after they recommend them. would be interesting if longer term they do any better than average. I have added a couple to my long-term watchlist… At the moment I am mainly focused on trading the index.
Moom, I absolutely agree that the Monday after is usually a large spike. The stocks that I chose (and it’s probably luck) have steadily been climbing after the Monday spike. Which is good.