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When I started "investing" in 2004 I had no idea what I was doing
I couldn't tell you ANYTHING about a balance sheet, income statement, management...nothing!
To prove just how bad I was, I looked up the first stocks I bought in 2004-2007
Here's how it went...
I couldn't tell you ANYTHING about a balance sheet, income statement, management...nothing!
To prove just how bad I was, I looked up the first stocks I bought in 2004-2007
Here's how it went...
Stock #1 - $STEM
I heard stem cells were going to be big, so I bought this penny stock
The ONLY thing I knew was the ticker - That's it!
I sold it for a 20% gain in a few months
My feelings: Investing is easy!
I heard stem cells were going to be big, so I bought this penny stock
The ONLY thing I knew was the ticker - That's it!
I sold it for a 20% gain in a few months
My feelings: Investing is easy!
Stock #2 - $DIGI
Another penny stock -- I couldn't tell you ANYTHING about this company either
Bought for $1.40 -- sold 1 month later a 5% loss
My feelings: Investing is still easy!
(currently about $0.10 share, down 90%)
Another penny stock -- I couldn't tell you ANYTHING about this company either
Bought for $1.40 -- sold 1 month later a 5% loss
My feelings: Investing is still easy!
(currently about $0.10 share, down 90%)
Stock #3 - $ALT
Penny stocks -- I can't telll you anything about this company.
Bought $1.01 - Sold 1 month later at cost
My feelings: Investing might not be easy
($ALT is unlisted today)
Penny stocks -- I can't telll you anything about this company.
Bought $1.01 - Sold 1 month later at cost
My feelings: Investing might not be easy
($ALT is unlisted today)
Stock #4 - $UAIR (United Airlines)
Penny stock + company I know! I can't lose!
Bought for $1.13
Sold for $0.75 -- 3 DAYS LATER!!!!
My first "big loss"
My feelings: Investing is getting harder
Penny stock + company I know! I can't lose!
Bought for $1.13
Sold for $0.75 -- 3 DAYS LATER!!!!
My first "big loss"
My feelings: Investing is getting harder
Stock #5 - $VODG
Penny stock - bought for $0.18 (So cheap, how could I lose????)
Sold for $0.20, 1-month later
My feelings: Investing is easy again!
Penny stock - bought for $0.18 (So cheap, how could I lose????)
Sold for $0.20, 1-month later
My feelings: Investing is easy again!
Stock #6 - $DDD
This ticker was a penny stock, clinical-stage biotech at the time, NOT 3D Systems
Bought at $3.15
Sold 3-months later at $4.50
My feelings: Investing is SO EASY - who are these suckers that buy 'high priced' stocks like $KO?????
This ticker was a penny stock, clinical-stage biotech at the time, NOT 3D Systems
Bought at $3.15
Sold 3-months later at $4.50
My feelings: Investing is SO EASY - who are these suckers that buy 'high priced' stocks like $KO?????
Stock #7 - $DDD again
Back to old reliable!
Bought at $4.83 (higher than my 1st sale price)
Bought again at $3.50 (what a bargain!)
Sold for $1.30 (biggest loss to date!)
(Eventually becomes unlisted)
My feelings: Investing sucks sometimes!
Back to old reliable!
Bought at $4.83 (higher than my 1st sale price)
Bought again at $3.50 (what a bargain!)
Sold for $1.30 (biggest loss to date!)
(Eventually becomes unlisted)
My feelings: Investing sucks sometimes!
My feelings: No more penny stocks for me - too risky!
I screen on Yahoo Finance for stocks based solely on trailing dividend yield. Nothing else! Bring on the HUGE dividends!
Stock #8 - $CIF
12% dividend -- how can I lose?
Bought $3.21
Sold $3.11
My feelings: Dividends!
I screen on Yahoo Finance for stocks based solely on trailing dividend yield. Nothing else! Bring on the HUGE dividends!
Stock #8 - $CIF
12% dividend -- how can I lose?
Bought $3.21
Sold $3.11
My feelings: Dividends!
Stock #9 - $IMH
22% dividend yield! I REALLY can't lose now!
Bought $17.05 (expensive!)
Sold $17.60 3-months later (luck)
(Current price $1.40)
My feelings: Dividends!!
22% dividend yield! I REALLY can't lose now!
Bought $17.05 (expensive!)
Sold $17.60 3-months later (luck)
(Current price $1.40)
My feelings: Dividends!!
Stock #10 - $PURE
Back to clinical-stage biopharma penny stock that's going to the moon!
Bought $1.90, $2.30, $2.40, $2.10
Sold $4.65 & $3.13 (success!)
My feelings: I'm getting better at 'investing'!
Back to clinical-stage biopharma penny stock that's going to the moon!
Bought $1.90, $2.30, $2.40, $2.10
Sold $4.65 & $3.13 (success!)
My feelings: I'm getting better at 'investing'!
Stock #11 - $CLM
What's it do? No clue!
20% dividend!
Bought at $9.15
Sold 1-month later at $8.20
My feelings: What aren't these dividend stocks working?
What's it do? No clue!
20% dividend!
Bought at $9.15
Sold 1-month later at $8.20
My feelings: What aren't these dividend stocks working?
The good news: I consumed EVERY piece of financial content that I can get my hands on at this time
Rich Dad Poor Dad
The Millionaire Next Door
The Motley Fool Investment Guide
etc, etc, etc
I discover http://Fool.com and start reading as many free articles as I could
Rich Dad Poor Dad
The Millionaire Next Door
The Motley Fool Investment Guide
etc, etc, etc
I discover http://Fool.com and start reading as many free articles as I could
Rick Munnariz becomes my favorite http://Fool.com writer (he's @Market)
He taught me that buying "good" companies is the way to go
I buy $EBAY, $GE, $BAC, $GOOG
I buy ETFs like $QQQ, $EEM
He taught me that buying "good" companies is the way to go
I buy $EBAY, $GE, $BAC, $GOOG
I buy ETFs like $QQQ, $EEM
Peter Schiff & Robert Kiyosaki convince me that inflation is going to make the dollar worthless
So I buy $GLD, $SLV, $SLW and foreign stocks
I still like dividends, so I buy $BP, $MO, $CVX, $PAYX
So I buy $GLD, $SLV, $SLW and foreign stocks
I still like dividends, so I buy $BP, $MO, $CVX, $PAYX
In 2008, I FINALLY become a paying member of http://Fool.com
I read EVERY back issue -- I CANNOT BELIEVE the quality of the research
I start posting on the boards
I see that companies like $NFLX, $AMZN, $ATVI have CRUSHED the market and are favorites of David & Tom
I read EVERY back issue -- I CANNOT BELIEVE the quality of the research
I start posting on the boards
I see that companies like $NFLX, $AMZN, $ATVI have CRUSHED the market and are favorites of David & Tom
I continue to read, read, read, read, read
I follow Fools like Tom Engle (TMF1000), Jim Gillies (TMFCanuck), and Jim Mueller (TMFTortise)
I can't believe how smart these other investors are -- how thorough they are with their research
I follow Fools like Tom Engle (TMF1000), Jim Gillies (TMFCanuck), and Jim Mueller (TMFTortise)
I can't believe how smart these other investors are -- how thorough they are with their research
I start to buy more GOOD companies like $NFLX, $AMZN, $GOOG
I start to develop a LONG TERM mindset
I start to read @morganhousel and learn about market history and psychology.
I abandon my desire to own gold/silver/oil
I start to develop a LONG TERM mindset
I start to read @morganhousel and learn about market history and psychology.
I abandon my desire to own gold/silver/oil
I change brokers in 2013
My results since:
My results since:
It's OK to suck in the beginning
I sure did!
Get some skin in the game, make mistakes, and learn from them
Connect with other investors, and develop a system
Most of all, develop a LONG-TERM MINDSET
INVEST, don't trade
Let's all make money and get better, together!
I sure did!
Get some skin in the game, make mistakes, and learn from them
Connect with other investors, and develop a system
Most of all, develop a LONG-TERM MINDSET
INVEST, don't trade
Let's all make money and get better, together!
