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re: How did you get into the stock market?
Posted on 2/6/21 at 3:08 pm to RedMustang
Posted on 2/6/21 at 3:08 pm to RedMustang
1991. I got a cold call from a broker at Raymond James about some company that had a patented process for some microbe that eats the creosote from utility poles so they could be recycled. The process was developed by LSU. I agreed to buy $100 to get the broker off the phone. She told me that the minimum investment was $1,000. I foolishly agreed and lost everything within a few years. I eventually opened brokerage accounts with Dean Witter and invested in nothing but mutual funds for 15 years. I’m sure losing my entire investment on one stock is the reason I did that. I worked at UPS from 1987 to 2003 and received stock as part of my compensation those last 5 years. I continued to reinvest UPS’s generous dividend into more shares. My Merrill Lynch broker put me into Apple and Google in 2010 but most of my investments were still in mutual funds. Took control of my accounts about 2-3 years ago and have been very successful trading mostly stocks on my own since. I also still hold all of the UPS stock I accumulated since 1998.
This post was edited on 2/6/21 at 3:19 pm
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Posted on 2/6/21 at 4:02 pm to RedMustang
quote:
My parents never bought a stock in their lives, so I knew nothing about the market.
Same here. My grandparents weren’t real interested in it either..
One set of grandparents pretty much lost it all in their 60’s and that had a ripple effect because my dad was in the family business also. Dad recovered and did well until he had a stroke a couple years ago and is now disabled.
The other set of grandparents were/are invested, but ultra conservative. They do own a nice piece of land that will eventually be my moms, and mine and my brothers some day.
I wasn’t taught much at all about stocks and investing coming up and even into early adulthood. So, I’m late to the game. Anyway, at the time Covid hit, I had a few thousand sitting there and when it all tanked I opened a Roth IRA. I’ve got a little bit tied up in the good shite going on on this board and I’m invested in QQQ and AAPL with the rest of it. I figure an advisor would be pushing me to be more diverse, but I’m trying to play a little catch up, so I don’t mind being a little risky.
Posted on 2/7/21 at 7:01 am to RedMustang
My dad gave me a booklet by a baseball coach in Georgia about investing.
His name was A. L. Williams.
I never went with Primerica because of costs, but the pamplet had some great lessons in it.
Dollar cost averaging, pay yourself first, compound interest, etc.
Dad also gave me 50 shares of T as a gift.
I then started in DRIPs in several stocks including PG and JNJ which I’ve never sold.
As I made more more, I never forgot the lesson of “pay yourself first.”
His name was A. L. Williams.
I never went with Primerica because of costs, but the pamplet had some great lessons in it.
Dollar cost averaging, pay yourself first, compound interest, etc.
Dad also gave me 50 shares of T as a gift.
I then started in DRIPs in several stocks including PG and JNJ which I’ve never sold.
As I made more more, I never forgot the lesson of “pay yourself first.”
Posted on 2/7/21 at 7:27 am to makersmark1
I was a senior in high school. I had purchased with all my graduation money a company called entrada networks. I had turned 2000 into 20000 and was about to buy a car....
Entrada networks was in the World Trade Center. One of the top floors. Lost 20k at 19 to 9/11.
Entrada networks was in the World Trade Center. One of the top floors. Lost 20k at 19 to 9/11.
Posted on 2/7/21 at 7:41 am to RedMustang
Just out of college and in my first real job with company benefits. My dad tells me, "this is the most money you have ever made in your lifetime to this point, invest no less than 10% in the company 401k plan, and increase it every time you get a raise until its maxed".
I listened to that advice, went to some classes that were sponsored by our employers plan provider, continued to network with investors outside of the company.. its been a slow, steady, but productive journey.. thanks to my dads advice.
I listened to that advice, went to some classes that were sponsored by our employers plan provider, continued to network with investors outside of the company.. its been a slow, steady, but productive journey.. thanks to my dads advice.
Posted on 2/7/21 at 7:43 am to PropofoLSU
quote:
Entrada networks was in the World Trade Center. One of the top floors. Lost 20k at 19 to 9/11.
Ouch.
I went to the 9/11 memorial. It was very well done, and it had an appropriate emotional impact on me. I don’t think I could visit the site again.
Posted on 2/7/21 at 8:51 am to RedMustang
When I got a job with a 401k.
Guys at work got me trading. Took quite a few lumps.
Sasol cratering earlier got me moving money and buying. Once that paid well I had some seed money.
Working one week on/off and quarantined really have me time to dig into it. Bought a tablet and loaded a bunch of apps and my TD Ameritrade TOS and the rest is history.
I've since added about 50k to my personal retirement account and 40k to my cash account.
Thanks to many on here. Cgrand for one. He turned me onto cmlpro and here we are.
AT recently as well with small caps and reading. Learning and being able to wait out losses if you believe in the company is the hardest.
Sasol is a great example. I got in at $1.30 it went up to $9 and sold. Believed in it and bout back in at $4.50.
Sold again at $8. It's at $13. But I set a target and hit it both times. Be happy with gains and don't look back on what you left on the table. Be thankful and move on.
Guys at work got me trading. Took quite a few lumps.
Sasol cratering earlier got me moving money and buying. Once that paid well I had some seed money.
Working one week on/off and quarantined really have me time to dig into it. Bought a tablet and loaded a bunch of apps and my TD Ameritrade TOS and the rest is history.
I've since added about 50k to my personal retirement account and 40k to my cash account.
Thanks to many on here. Cgrand for one. He turned me onto cmlpro and here we are.
AT recently as well with small caps and reading. Learning and being able to wait out losses if you believe in the company is the hardest.
Sasol is a great example. I got in at $1.30 it went up to $9 and sold. Believed in it and bout back in at $4.50.
Sold again at $8. It's at $13. But I set a target and hit it both times. Be happy with gains and don't look back on what you left on the table. Be thankful and move on.
Posted on 2/7/21 at 9:10 am to RedMustang
This guy hired me on.
Posted on 2/7/21 at 9:25 am to thejudge
quote:
cmlpro
community feature rolling out soon.
it’s gonna be a cheat code
Posted on 2/7/21 at 9:42 am to RedMustang
when I was broke drunk and aimless I applied for a job off an ad in the TP at FN Wolf in the lakeway Bldg in Metairie
I had zero qualifications, none.
they told me they’d pay for my series 7 and put me on the phones right away, salary plus commission. I couldn’t believe my good fortune.
so they tell me they’ll send over the paperwork in a week, so get ready.
Three days later FN Wolf was shut down by the SEC for running a penny stock boiler room.
So that was my first exposure to the market, I figured it must be easy enough so I started investing (it was not easy enough)
I had zero qualifications, none.
they told me they’d pay for my series 7 and put me on the phones right away, salary plus commission. I couldn’t believe my good fortune.
so they tell me they’ll send over the paperwork in a week, so get ready.
Three days later FN Wolf was shut down by the SEC for running a penny stock boiler room.
So that was my first exposure to the market, I figured it must be easy enough so I started investing (it was not easy enough)
Posted on 2/7/21 at 10:59 am to cgrand
quote:
community feature rolling out soon.
it’s gonna be a cheat code
I'm pumped.
:Can't wait gif:
Posted on 2/7/21 at 2:38 pm to cgrand
quote:
cmlpro
community feature rolling out soon.
it’s gonna be a cheat code
Tell me more. Where can I find the back discussion on this?
NM, I see the answer in the other thread.
This post was edited on 2/7/21 at 2:43 pm
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