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.
This site has a lot of frugal tips:
http://www.reddit.com/r/Frugal/
I clicked on your link and that was my first visit to reddit. It is huge. Lots of frugal tips but everything else in the world as well.
I was also waiting for the markets to crash as we went over the Fiscal Cliff. If figured I’d be able to get a deal on some index funds since everyone would be worrying about another recession. So now I’ve got some extra cash on hand… Not the worst problem in the world. I’m sure it will come down again sometime soon.
Perhaps the fall will start during the debt ceiling negotiations.
Yea, I feel confident the US Congress will do some scary things over the next few months that will have investors running for the hills.
Then I will keep some money aside until everyone is in a panic and snap up some bargains.
A google search of Kenny Rogers says that his estimated net worth is 250 million American dollars. Too bad I can’t sing.
I love the analogy to Kenny Rogers! I never thought of that before. However, also remember to buy when others are fearful. If you’re fearful of what American politicians are going to do, its probably a good time to buy.
America coughs and Canada gets a cold – famous Canadian saying. I do follow American news to try and get a sense/cents of where things are headed. I am preparing for the debt ceiling craziness and will buy at the time when Americans feel least secure.
“I will be stay sittin at the table with all my current holdings for years to come.”
This is a great philosophy and I think that it will serve you well.
One of the big issues I see with investing and society in general is that everyone thinks very short term. Stocks with long term track records of success tank because an “analyst” speculates about something. Over the long term though, the truth rises to the top and if you’re in quality equities, you’ll do just fine.
I would lose too much in trading fees if I was a flipper. I don’t do anything trendy or new with my finances. I believe that the term for the companies I invest in is widows and orphans. Investments that are safe enough to put the money of the most vunerable in.
I am wondering about my shares in Maple Leaf Foods. Down again. But I will just hold and wait. All investing is a gamble.