I waited until the Americans got their cliff issues sorted out to make my stock purchase. My thought was that if they couldn’t agree then stock prices would drop and it would be a good time for me to make a purchase. The world is feeling more confident and stock prices are up and I am left with less buying power than if I had purchased last week. I guess I was not paying close enough attention when Kenny Rogers sang all the advice an amateur stock buyer will ever need in his song The Gambler.
You got to know when to hold em. Know when to fold em. Know when to walk away. Know when to run.
You never count your money when it’s sittin on the table. They’ll be time enough for countin when the dealins done.
Some good advice there if you can see past all the missing Gs.
My stocks are down across the board but this is not the time to fold em, walk away or run. I will be stay sittin at the table with all my current holdings for years to come.
Being in it for the long run means that I avoid broker fees from frequent transactions.
Sometimes you do need to run but my investing strategy is to stay away from anything risky that people would get in to in hopes of making quick profit and then selling again.
This week, after the cliff was settled but before the debt ceiling craziness, began I played it safe and bought more shares of Maple Leaf Foods. I was considering Coke but people need to drink less pop to be healthier and people might drop luxuries, like pop -yes pop is a luxury, if they decide to get serious about paying down debt.
Mr. Kenny Rogers The Gambler
No Spend January update
Had to buy yogurt at Costco for $5.49 and couldn’t miss the $8.00 owing to the work lottery pool. I know that lottery is a tax on the poor but I am not going to be the only one in my department to miss out on a win. Down to $100.00 and some change. As long as my supply of toilet tissue doesn’t run out before the end of the month I think I will be ok.