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Stock Market Spec
Apr. 12th, 2012 12:40 pmI sold a bunch of stock yesterday, bringing some ill-advised speculation to an abrupt end. At net a slight loss, but as far as ways to learn you're terrible at stock-market speculation go, it could be worse.
Of course, most of my long-term savings is in sensible things like low-cost index funds and a savings account. But how boring is that? So for the sake of entertainment, a bit of discussion on some stocks I own, and why I own them:
Zipcar: The price had declined somewhat from the IPO, but I figured it was cheap at that point. Unfortunately, the market didn't agree, and the price continued to decline by almost half. I'm was optimistic about the long-term prospects of the company, for basically the reasons enumerated here. I'm still optimistic, but wish I'd bought more later instead.
Netflix: Basically the same story, bought in significantly after the first bubble popped. Has declined a bit since, but it's a company I like, and I'm optimistic about their long-term success.
Microsoft: Bought for kicks, on speculation that Ballmer might step down. But Ballmer's sticking around and the value went up 30%. So whatever.
Illumina and Life: Both are developing technologies that might bring whole-genome-sequencing within the reach of the average consumer. I think that will be very valuable tech in a future with cheap data crunching and rising healthcare costs.
Nintendo: Wanted to own a bit of the company, and it's cheap now. Maybe some future innovative product will boost the price as much of the Wii did. (That's unlikely in an increasingly competitive market, but I expect they'll continue to try innovative things.)
SPDR Gold Trust ETF: $_$
Of course, most of my long-term savings is in sensible things like low-cost index funds and a savings account. But how boring is that? So for the sake of entertainment, a bit of discussion on some stocks I own, and why I own them:
Zipcar: The price had declined somewhat from the IPO, but I figured it was cheap at that point. Unfortunately, the market didn't agree, and the price continued to decline by almost half. I'm was optimistic about the long-term prospects of the company, for basically the reasons enumerated here. I'm still optimistic, but wish I'd bought more later instead.
Netflix: Basically the same story, bought in significantly after the first bubble popped. Has declined a bit since, but it's a company I like, and I'm optimistic about their long-term success.
Microsoft: Bought for kicks, on speculation that Ballmer might step down. But Ballmer's sticking around and the value went up 30%. So whatever.
Illumina and Life: Both are developing technologies that might bring whole-genome-sequencing within the reach of the average consumer. I think that will be very valuable tech in a future with cheap data crunching and rising healthcare costs.
Nintendo: Wanted to own a bit of the company, and it's cheap now. Maybe some future innovative product will boost the price as much of the Wii did. (That's unlikely in an increasingly competitive market, but I expect they'll continue to try innovative things.)
SPDR Gold Trust ETF: $_$
