Portfolio of the Week

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  • Rob
    Senior Member
    • Sep 2003
    • 3194

    Originally posted by Lyehopper View Post
    Rockin'Rob is [. . .] a better trader than any "professional money manager" that I've seen.
    I wish.


    .
    —Rob

    Comment


    • Amateur Trading

      Originally posted by Tatnic View Post
      I'm curious as to why Mary or anyone else with no trading experience would even consider shorting or trading for that matter. Mary, you'd be better off letting a professional manage your money. A professional is someone manages other people's money for a living and gets paid for it....an amatuer investor is like most of us who trade our own money.
      My money IS being handled by a professional. The money I use for investing is not liquid. It is all within an IRA that was set up when a former employer discontinued it's profit sharing and pension plans ... plans in which I was 100% vested. When the plans were funded, my options were to re-invest it somehow or pay tax and a significant penalty for early withdrawal. So I rolled the money into an IRA which is held at an investment firm I chose because my twin sister is a registered sales assistant there for 4 of the brokers.

      The funny (sad) thing is that most of the stocks and mutual funds I have in my portfolio (recommended by an "expert") are either flat or worth less than when I bought them. The only really significant profit I've made is eBay, which I wrote about in another thread. I made this buy decision on my own after hearing a radio talking head say, "Buy what you like." At that time, I was having a lot of fun buying and selling things on eBay. So I called my broker and asked, "Would eBay be a good buy right now?" He said yes and I bought some. It sold later due to a stop loss that was also recommended and my profit was in the area of 400%. I lost my socks on WorldCom (also recommended by an "expert.") My Intel stock is currently worth in the neighborhood of $8,000 to $10,000 less than when I bought it. I've had a few other success stories on stock sales but nothing to write home about. The biggest problem is that when I first converted the money in my IRA from a cash account to stock investments, it was only a couple of month before the stock market bubble burst. (2000? 2001?) So I'm still trying to earn back to the point of my initial investment.

      I could be wrong but I feel like my broker ignores my account because the amount of money in my IRA is paltry compared to his clients who have hundreds of thousands (or millions) of dollars to play with. Also, if I have to pay a commission on each trade, I want the profit to end up in my account, not my broker's pocket.

      I really went off on a tangent there. The bottom line is that my money is being managed by a professional and it will stay that way for as long as I don't feel like I'm knowledgeable enough to handle it myself.

      Mary

      Comment

      • Rob
        Senior Member
        • Sep 2003
        • 3194

        Week 43 (4), Day 3

        —Rob

        Comment

        • Websman
          Senior Member
          • Apr 2004
          • 5545

          Way to go Gwhiz! I hope ERS keeps shooting out of sight. It's making my trading account look much better!

          Comment

          • Websman
            Senior Member
            • Apr 2004
            • 5545

            What's this? I just entered a pick this morning and I'm already in 3rd place???

            Looks like the VTP is getting better all the time...

            Comment

            • IIC
              Senior Member
              • Nov 2003
              • 14938

              Originally posted by Websman View Post
              What's this? I just entered a pick this morning and I'm already in 3rd place???

              Looks like the VTP is getting better all the time...

              I guess miracles do happen..
              "Trade What Is Happening...Not What You Think Is Gonna Happen"

              Find Tomorrow's Winners At SharpTraders.com

              Follow Me On Twitter

              Comment

              • Websman
                Senior Member
                • Apr 2004
                • 5545

                Originally posted by IIC View Post
                I guess miracles do happen..

                The VTP could be considered as a miracle from the Vulcan Gods...The VTP will soon become known as the most successful yet most secretive stock picking method in the world.

                Comment

                • IIC
                  Senior Member
                  • Nov 2003
                  • 14938

                  Originally posted by Mary View Post
                  My money IS being handled by a professional. The money I use for investing is not liquid. It is all within an IRA that was set up when a former employer discontinued it's profit sharing and pension plans ... plans in which I was 100% vested. When the plans were funded, my options were to re-invest it somehow or pay tax and a significant penalty for early withdrawal. So I rolled the money into an IRA which is held at an investment firm I chose because my twin sister is a registered sales assistant there for 4 of the brokers.

                  The funny (sad) thing is that most of the stocks and mutual funds I have in my portfolio (recommended by an "expert") are either flat or worth less than when I bought them. The only really significant profit I've made is eBay, which I wrote about in another thread. I made this buy decision on my own after hearing a radio talking head say, "Buy what you like." At that time, I was having a lot of fun buying and selling things on eBay. So I called my broker and asked, "Would eBay be a good buy right now?" He said yes and I bought some. It sold later due to a stop loss that was also recommended and my profit was in the area of 400%. I lost my socks on WorldCom (also recommended by an "expert.") My Intel stock is currently worth in the neighborhood of $8,000 to $10,000 less than when I bought it. I've had a few other success stories on stock sales but nothing to write home about. The biggest problem is that when I first converted the money in my IRA from a cash account to stock investments, it was only a couple of month before the stock market bubble burst. (2000? 2001?) So I'm still trying to earn back to the point of my initial investment.

                  I could be wrong but I feel like my broker ignores my account because the amount of money in my IRA is paltry compared to his clients who have hundreds of thousands (or millions) of dollars to play with. Also, if I have to pay a commission on each trade, I want the profit to end up in my account, not my broker's pocket.

                  I really went off on a tangent there. The bottom line is that my money is being managed by a professional and it will stay that way for as long as I don't feel like I'm knowledgeable enough to handle it myself.

                  Mary
                  "Professional" is a subjective term. You don't want to hear what I think of investment professionals...My recommendation to you is to roll your money out of this firm as soon as possible.

                  First of all you put your money w/ that firm for a very bad reason...Why would you think they were any good because your sister worked there?

                  Second of all, if you feel they are ignoring you...Then I'm sure they are.

                  Thirdly, any investment professional who was even mediocre should have earned you a minimum of 12% yr in a conservative account over the last 7 years.

                  Lastly, forget professionals...There may be a few good ones, but IMO the whole industry is rampant with inept managers and crooks. Becoming an investment professional is one of the easiest fields to enter...Designations are virtually meaningless in the investment field...Results are what counts.

                  I strongly recommend that you close that account and roll it over into IRA CD's until you figure out what you really should be investing in...Even 5% a year is better than losing.

                  Your story reminds me of my Dad's neighbor who is a widow...She had a portfolio manager handling her entire retirement fund...She didn't ask for help until over 60% of it was gone. I know a younger guy that invested 80 grand in a managed portfolio a few years back...My question to him was "Why did you wait until your account was worth only 9,000 before you closed it"?...His answer was that this manager was supposed to be very good...Actually, I can think of many horror stories...Hope you do not become one of them...Best, Doug(IIC)
                  "Trade What Is Happening...Not What You Think Is Gonna Happen"

                  Find Tomorrow's Winners At SharpTraders.com

                  Follow Me On Twitter

                  Comment

                  • IIC
                    Senior Member
                    • Nov 2003
                    • 14938

                    Originally posted by Websman View Post
                    The VTP could be considered as a miracle from the Vulcan Gods...The VTP will soon become known as the most successful yet most secretive stock picking method in the world.
                    Yeah Webs...I'm really a billionaire...But lets keep that a little secret just between you and I...IIC
                    "Trade What Is Happening...Not What You Think Is Gonna Happen"

                    Find Tomorrow's Winners At SharpTraders.com

                    Follow Me On Twitter

                    Comment

                    • RL
                      Senior Member
                      • Sep 2003
                      • 1215

                      GWIZ, GWIZ nice find your not a wizzard are you from the land of OZ
                      Ray Long

                      Comment

                      • Websman
                        Senior Member
                        • Apr 2004
                        • 5545

                        Originally posted by IIC View Post
                        Yeah Webs...I'm really a billionaire...But lets keep that a little secret just between you and I...IIC
                        Money is not what makes a successful Vulcan...

                        Comment

                        • Rob
                          Senior Member
                          • Sep 2003
                          • 3194

                          Originally posted by IIC View Post
                          ...But lets keep that a little secret just between you and I...IIC
                          lets = let's
                          between you and I = between you and me

                          —Rob

                          Comment


                          • Stocks vs. IRA CD's

                            Originally posted by IIC View Post
                            First of all you put your money w/ that firm for a very bad reason...Why would you think they were any good because your sister worked there?
                            Because they're a well-known, nationwide firm too. I'm sure you've heard of Smith Barney.

                            I remember once telling my sister that I was considering selling my entire portfolio and opening a CD account. I forget what the guaranteed return was at the time, but she put the broker on the line who talked me out of it because of the earning "potential" I have where I'm not, rather than be locked into a set percentage. I got suckered by the sales pitch, I guess. I think tomorrow I'll check with the credit union where I do my banking to see what kind of IRA CD rates they have going ... or ... perhaps I can look now, as they might have it posted on their web site.

                            Mary

                            Comment


                            • Originally posted by Mary View Post
                              Because they're a well-known, nationwide firm too. I'm sure you've heard of Smith Barney.

                              I remember once telling my sister that I was considering selling my entire portfolio and opening a CD account. I forget what the guaranteed return was at the time, but she put the broker on the line who talked me out of it because of the earning "potential" I have where I'm not, rather than be locked into a set percentage. I got suckered by the sales pitch, I guess. I think tomorrow I'll check with the credit union where I do my banking to see what kind of IRA CD rates they have going ... or ... perhaps I can look now, as they might have it posted on their web site.

                              Mary
                              Oops! I meant to say "... where I'm at ..."

                              Comment

                              • skiracer
                                Senior Member
                                • Dec 2004
                                • 6314

                                Originally posted by Mary View Post
                                Because they're a well-known, nationwide firm too. I'm sure you've heard of Smith Barney.

                                I remember once telling my sister that I was considering selling my entire portfolio and opening a CD account. I forget what the guaranteed return was at the time, but she put the broker on the line who talked me out of it because of the earning "potential" I have where I'm not, rather than be locked into a set percentage. I got suckered by the sales pitch, I guess. I think tomorrow I'll check with the credit union where I do my banking to see what kind of IRA CD rates they have going ... or ... perhaps I can look now, as they might have it posted on their web site.

                                Mary
                                Mary,
                                Exercise a little patience and spend some time just listening to the stock talk going on here and while you're at it try to read a book or two about trading and the basics of researching for stocks on your own. Any questions you might have will get answered pronto here. If you do come up with a pick run it by everyone here to get several opinions and then base your decision on that. There's no need to start off with big money or share trades. Just start making a few smaller trades, 10 or 20 shares of something you like for whatever reasons, and get your feet wet that way. In time you will start to feel comfortable and you will have eased into it in a subtle way. There is a wealth of knowledge here that will steer you in the right direction or at least give you the pros and cons of what you might be considering. But at this point I wouldn't let anyone else manage what money you have left. It's just as easy to lose it for yourself on your own. Exercise patience, there is no rush to do anything until you feel comfortable knowing all the parameters. As everywhere there will be people here who will try to push their ideas on you. Absorb what is good and fits for you and filter out the rest. It's just like picking stocks. But exercise patience and don't rush into anything especially another money manager or managed fund. Good luck.
                                THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                                Comment

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