And don't listen to just one person. TAC knows what he is talking about but we disagree sometimes. I would NOT say to not invest in Ford just because you don't drive one.

 

Should have said if you don't like Fords. Not if you don't drive one. I don't eat chipotle but I liked their business model and have done very well on that stock.

Do NOT try to time the market, you will fail. Think long term and don't panic when the market sours. If nothing has changed with your stocks there's no reason to bail on them, in fact that's the time to pick up more.

All great advice! Thanks to all who have commented so far! I've got a few companies in mind that I feel would be great investments. Seriously though, I truly appreciate all of the feedback I've gotten. Now, what do I owe you guys? Or, was this advice worth the amount that I paid for it?

 

:laugh::laugh::laugh:

....

 

Make a lot.

Save a lot.

Think long-term.

Don't look at it as "being competitive".

 

The one place Clyde and I disagree is how to manage the portfolio. While managing it yourself works for Clyde, I would tell you that is a bad idea for 90% of the population. Everyone has 50 "financial planners" in their phone's contacts, and I would tell you (strongly urge) not to use any of them. Don't give your money to a friend or family member to manage. Find the biggest and best person you can find that will take your account and trust them (after vetting them thoroughly).

 

To be clear, I wasn't saying "do not use an adviser." I was saying that , based off an assumption, the relatively small size of your portfolio MAY make it difficult to get much time with your advisor.

All great advice! Thanks to all who have commented so far! I've got a few companies in mind that I feel would be great investments. Seriously though, I truly appreciate all of the feedback I've gotten. Now, what do I owe you guys? Or, was this advice worth the amount that I paid for it?

 

:laugh::laugh::laugh:

 

TBD

To be clear, I wasn't saying "do not use an adviser." I was saying that , based off an assumption, the relatively small size of your portfolio MAY make it difficult to get much time with your advisor.

 

My guy calls me every couple of months to check in. I don't have a whole lot with him because most of mine is through my work 401K. He has also reviewed my work portfolio and given me direction. He has done this for over 20 years. Solid guy. Only down side, he is a Duke grad!

Look of sound advice....I'm liking it!

@TAC Your guy is a Duke grad? Please tell me he isn't a Duke Basketball fan too.:jump:

Look of sound advice....I'm liking it!

@TAC Your guy is a Duke grad? Please tell me he isn't a Duke Basketball fan too.:jump:

 

Played football for them. Pretty sure he is a hoops fan!

@BoyWonder Additional proof of how easy this stock market is. One of my stocks where I love the company and the product GMCR just dropped 28% of its value today!

Diversification is key, especially as the size of your investments grow. Focus on eliminating any major types of unsystematic risk in your portfolio. You'll still experience the up's and down's of the market but will typically see greater consistency.

When I first started I paper traded for about month or so to learn. I play penny stocks occasionally... But it's because I'm to lazy to go to the casino. There is no difference between them and a slot machine though.... I have my stocks broke down into long term retirement planning/ and a fun account that I keep a few thousand in.. Lately my fun account has done well

Bad day for the DOW. Funny, the Scottrade account I play around with has about 20 stocks in it. The only one up is Smith and Wesson :sssh:

Brutal week I lost a lot as did most. Not sure next week will be any better.

Yeah everyone got killed. Time to add if you has some money set aside.

Just put all your money in oil stocks. You can't lose. The price-rigging ensures it.