Check out them assets!
Ever since middle school, one of my hobbies has been the stock market. I lost hundreds in the crash of '08 (my net worth in stocks is truly pennies), but with a new school and a new year, I sold all of my mutual fund shares and went for a new strategy: direct investment in stocks. This was actually a HUGE mistake because I ended up with less than my initial investment, which violates business rule #1to buy low and sell high. However, directly investing in companies has been far more exciting and rewarding than just letting my money sit in a mutual fund. For one thing, it's just really exciting being an "owner" in a company. For example, I used to own shares in Starbucks Corporation, and it's satisfying actually being rewarded for supporting corporations-- not to mention, it made spending $5 on a drink at Starbucks a little less painful--and I've actually had similar successes with other companies like CBS, Steinway and Sons, and most recently Jet Blu. But with successes there are also failures, and I have had plenty of those! That just goes with managing your own stock portfolio. Best of all, my initial investment has successfully beat inflation! The high-risk, high-return nature of the stock market is really the only means to profit in an inflationary economy, and what's probably the best part, is that my profit never involved lifting a finger…well, if you don't count the online trade.
Happy Investing!
-EJS
(P.S. Here's my FREE personal investment advice. As someone without esoteric market insider knowledge and the ability to interpret the seemingly infinite lists of market statistics, my tried and true investment strategy is to invest in companies that I've had personal experience with and believe in. And if you don't get the same thrill from investing directly in companies as I do, mutual funds are a really great way to go. There is less risk and a manager, one who knows how to interpret all of those crazy stats, does all of the guess work for you, while the returns can be just as good, if not better, than investing the money in companies yourself.)
Happy Investing!
-EJS
(P.S. Here's my FREE personal investment advice. As someone without esoteric market insider knowledge and the ability to interpret the seemingly infinite lists of market statistics, my tried and true investment strategy is to invest in companies that I've had personal experience with and believe in. And if you don't get the same thrill from investing directly in companies as I do, mutual funds are a really great way to go. There is less risk and a manager, one who knows how to interpret all of those crazy stats, does all of the guess work for you, while the returns can be just as good, if not better, than investing the money in companies yourself.)
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