Thread: Making/saving money

Interesting thread, I need to start messing with stocks.

This should interest Double base.

Originally Posted by min0 lee

Interesting thread, I need to start messing with stocks.

This should interest Double base.

I have already made a pretty fair amount off stocks already, dealing primarily with junk stocks since I dont have enough to buy mass quantities of more expensive stocks.

Originally Posted by egodog48

I have already made a pretty fair amount off stocks already, dealing primarily with junk stocks since I dont have enough to buy mass quantities of more expensive stocks.

4% on junk stocks and 4% on blue chips are the same thing. You don't need to buy in bulk.

Originally Posted by danzik17

4% on junk stocks and 4% on blue chips are the same thing. You don't need to buy in bulk.

That is correct, however, high volume junk stocks have much more potential to change in my favor by the way I have been trading. I also am much more comfortable knowing that a once highly sought after stock that is now under $5 may have the potential to rise quite high again, obviously leaving me with a higher long term gain if I so choose to not use it for short term gains. And yes, many stocks have dropped well below value, but I still am a firm believer in junk stocks.

Does this mean I dont trade with anything else? No, but I have made the majority of my money this way, outside of a few inverse ETF's. Perhaps I am one of the few that look at thinsg this way, but Im okay with that as long as I am not one of the many amateurs making the professionals richer.

Does this also mean I think I know near what I need to to become successful? Not even a little bit. Im always open to anyone wanting to talk about it, or point me in the direction of any books I can pick up. I do have a financial background, but not in securities or anything of the like.

qcom

Originally Posted by danzik17

4% on junk stocks and 4% on blue chips are the same thing. You don't need to buy in bulk.

Wouldnt you agree though that the ability of a blue chip stock to move up by the same percent is relatively lower than some of the high volume junks? Again, I really cant watch it all, as I have a day job, bt just by spot checking, it doesnt seem this way.

I stick with the buffet mentality for investing. Invest in a company you know about and feel comfortable with. Let it stay in there for at least 5 to 10 years. So far that has not worked out so well. Although I have been doing some dollar cost averaging with my big companies, GE, Citicorp and E-trade. I like to keep my portfolio simple. At least in the beginning. Maybe once I get a couple hundred grand I can really start diversifying. I do a 401K here at work. I don't follow that much. Which I plan on looking into in the next couple weeks. Again I like to keep all my finances simple.

I invested $2692 in stocks and after the recession the value is $637. That's real shitty by any standard. But i am holding as all companies are good & will sustain, anyway's my money is locked for at least 5 Years or so, I hope so.

Mutual funds are doing ok but not that OK.