Friday, February 01, 2008
I don't pretend to know everything about the financial market. I do however know that when the market is down, one should invest. Sure, its tough to watch the Dow go down every day as it seems like it did in December and January but if you subscribe to "buy low and sell high", how else are you going to buy low?
I bought a couple stocks two weeks ago. One (Devon Energy) is up 10 percent and one (Philip Morris) is up 3.5 percent. I bought Dolby two months ago and its up nearly 40 percent. Carmax is up 10 percent. Yahoo was up big today on the news Microsoft is buying it so I'll make 10 percent on that. Of course, I deal in small amounts so making ten percent isn't a whole lot of money. But I guess its better than losing ten percent.
Microsoft was down $2 today. I took the opportunity to buy more of it. It's a great company which practically mints money. It had a great earnings report last week and the stock wasn't rewarded nearly enough.
I write this blog mostly for my kids, so that someday they can figure out their old man. I'm proud that I've been able to buy some stocks for them and get them started down the path to financial security. They own Disney, Proctor & Gamble, Johnson & Johnson and McDonald's. I wish I could put more money into their account but I know someday they will be happy that they own something. My words of wisdom to them will be to start saving early. Compounding of interest is a great thing; I wish I had saved more in my 20s but that can be tough.
I don't think the seesaw of the market is over yet but I'll continue to enjoy watching it.
I bought a couple stocks two weeks ago. One (Devon Energy) is up 10 percent and one (Philip Morris) is up 3.5 percent. I bought Dolby two months ago and its up nearly 40 percent. Carmax is up 10 percent. Yahoo was up big today on the news Microsoft is buying it so I'll make 10 percent on that. Of course, I deal in small amounts so making ten percent isn't a whole lot of money. But I guess its better than losing ten percent.
Microsoft was down $2 today. I took the opportunity to buy more of it. It's a great company which practically mints money. It had a great earnings report last week and the stock wasn't rewarded nearly enough.
I write this blog mostly for my kids, so that someday they can figure out their old man. I'm proud that I've been able to buy some stocks for them and get them started down the path to financial security. They own Disney, Proctor & Gamble, Johnson & Johnson and McDonald's. I wish I could put more money into their account but I know someday they will be happy that they own something. My words of wisdom to them will be to start saving early. Compounding of interest is a great thing; I wish I had saved more in my 20s but that can be tough.
I don't think the seesaw of the market is over yet but I'll continue to enjoy watching it.
