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JCPenney's Ron Johnson: 'Customers Don't Get Our Pricing Strategy'
We've asked each of our bloggers to introduce themselves and talk a little about why they love the market and what positions they call their own. We encourage our bloggers to own common stock and abide by a common code of conduct.Who are you, and why are you passionate about stocks?
In All Kinds of Writing I blog about my other passion - writing.
What was the first stock you owned?
I started investing in mutual funds at first, wanting to make sure investing was the thing for me. I researched some mutual funds, looked at overall economic forecast, market indicators and sector specific possibilities. A year later when I was ready for my first apartment, I made enough for a few months' rent. So then I decided to start trading stocks. For some reason though, all of my previous caution and research went out the window. I bought a mining stock solely based on a presentation I saw the CEO giving, and I was impressed. At the time mining was completely flat and the company was just as unimpressive. Luckily. I dumped it after a year and forgot all about it.
My worst move was staying in US currency. For a couple of years I was paid in US dollars which also caused me to invest more in the US market. Even the stocks that have done well for me should be discounted to account for the US dollar losing so much ground vis-a-vis the Canadian dollar.
What is your investing success story?
Without a doubt, Nortel. Not because it made me the most money, but because it was a well timed risk.
If you recall, Nortel had a great run in the 90s which I completely missed. When trouble started and the stock sunk from over a $100 to around $1 per share, I decided to take a chance. I bought it around $1, thinking I don't have much to lose. Within a year Nortel went to $8 and then started declining again. I quickly unloaded it around $6, missing the "high", but still getting a pretty good return for 18 months.
What do you own now?
I'm heavy into financial and commodity at the moment as well as a few tech and entertainment US stocks. And then there's my dog - Lucent - which I keep more as a reminder now.
What are you cheap about?
I'm not sure. I'm willing to pay for quality, but I don't expect much if I go to the dollar store. That means that I can occasionally indulge in high-priced fine-dining but I expect the burger at the local pub to be priced accordingly.
Goldman Earnings Sink After Buffett Dividend
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Reader Comments (Page 1 of 1)
6-28-2006 @ 9:43AM
PAUL CHIAMPA said...
Nasdaq going off a cliff....GOOG and some other heavyweights can't save it. Five years ago the Nasdaq was at the same level as it is today with many big Technology stocks down over that period and this is a very ominous sign as 60% of GNP is Technology related.
So much for summer rally... plus Federal Reserve will continue to raise rates even after today's increase.
T-bill rates were 1.5% 20 months ago and now they are over 5% and climbing. Companies borrowing costs are predicated on short term rates.
The House of Cards is folding and nobody sees it. In 1982 Dow was 770 not 7700 but 770. No one wanted to buy stocks then. Now we have the flip side to that with everyone in the stock market. Take a look at Yahoo it is dead in the water just like MSFT, ORCL etc..etc Where are the buyers now?
Bambi's mother said it best, "There is something evil in the forest".