Thursday, February 18, 2010

No Longer An Investing Virgin:
My foray into the stock market


(I apologize for the somewhat sensationalized title. It was inspired by
this (unrelated) post at Budgets Are Sexy, which I can't seem to get out of my mind!)


I did it! I finally bought some shares of stock. In previous posts I talked about how my natural aversion to risk held me back from investing in the stock market. But several things lined up recently as if to say it's now or never and so, with sweaty palms and a fluttering heart, I finally took the plunge!

What allowed me to risk my hard earned money: Well, I managed to save up some cash specifically for investing, and a company I was following did a stock split and their shares were now affordable to me. By the end of the day I had gained a whopping $4! Not bad for a newbie right? I know markets are fickle. But I'm in it for the long run so hopefully that was a good omen. Wish me luck!

Check out this old stock market photo (by Bourke-White) circa 1936. Can you believe that was less than a century ago?




In other good news, two of my posts were included in carnivals this week:

* SimplyForties hosting the 'Snowpocalypse Edition' of the Festival of Frugality featured some surreal pictures of the recent snowstorm that debilitated parts of the country and also my post on extending the life of clothes.

* Len Penzo hosting the 'Fiscally Irresponsible TV Characters Edition' of the Carnival of Personal Finance wondered how so many of our beloved characters got away with unrealistically expensive tastes and also had some advice for me on my recent post on 5 Obstacles to Financial Success.

Head on over to their sites and check out the great jobs they did compiling some compelling material. Thanks for including me in your carnivals Mary and Len!


image by Katrina Tulio


14 comments:

  1. Haha, nice. You put "Virgin" in anything and you're bound to get some more eyeballs ;)

    Congrats on your first stock purchases! Very very exciting stuff, I hope you learn a lot from now until forever!

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  2. Congrats! How'd you go about choosing what to buy?

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  3. Very nice, now just don't check the stock everyday otherwise you'll go crazy :-)

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  4. Hooray! Like a virgin, just close your eyes and wish for the best!

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  5. I don't have the spare cash YET to "play the market". But I recently helped my brother (who is one of the most risk-adverse people I know) to take some of his money from his mattress and buy some stocks for the long haul. I have to settle living vicariosly through him until I get our financial ship in order.
    Did you use sharebuilder? Or did you find a "cheaper" option?

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  6. J Money - that's why I'm here now!! Sizzle...Scandalous!

    Ms. Prosperity - Welcome to the club. How did that $4 high feel?

    I read an article about some research that was done and apparently stock trading realizes the same adrenaline/endorphins as gambling or cocaine...

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  7. Word has it that women are better stock pickers than men. Make sure you drop everything you learn on us! We need all the help we can get!

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  8. Maybe this is the start of something big. Just don't get too emotionally attached to your stock and don't forget to do your homework! There's tons of information out there to help you, and there are a lot of us at your beck and call as well. Good luck!

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  9. I think we're all waiting to here. What you invested in and why? Don't keep us waiting...

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  10. The stock that split was it BRK.B? What broker are you using?

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  11. Good for you! And very brave...I agree with Jeff, fight the urge to watch it too closely and listen to all of these guys who have been in the game awhile. You're gonna do great.

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  12. Congrats! I'd love to read some more insight into the decision/process and any other specifics.

    You're on a good path!

    Austin @ Foreigner's Finances

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  13. Thanks for the encouragement everyone! Sorry to disappoint some of you, but I didn't really do much homework. In my defense, I was reading up stuff online and had bought a couple of books with the good intentions of reading through them before doing anything, but then the stock split happened suddenly, and I hurriedly bought some.

    I promise to do a follow up with answers to all the questions, once I get back from vacation next week!

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  14. @financial samurai: That's....hilarious...surprised it never got moderated out :)

    @CP - Congrats on your purchase! May your foray in the markets be successful and you achieve all of your personal finance objectives!

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Have something to say? Disagree with me? Please leave a comment as I'm always looking to expand my horizons.