Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
It is late Sunday and I really need to get some sleep. I am up early tomorrow to walk with friends. Am trying to get some more exercise. As well as some sleep :).
But I wanted to pause for a moment, especially with the markets closed. I have a great Carole King CD on and I can almost hear the earth move.
Seriously, I have had some questions about margin and I believe many are coming from new investors that want to understand the ins and outs of investing. Unfortunately, I have a load of margin and I don't suggest anyone else use it. In fact, I want to pay this down real badly.
I have made so much progress in my own account and I know that a severe downdraft with a large margin position will really do some damage to my equity. I don't need that and you don't either.
If you are starting out, the best advice I can give you is not to be in a hurry. We have been extremely fortunate the past several years. It is not always this easy. Even an amateur like me looks brilliant. That in itself is a scary thought.
I am totally convinced that my ideas of identifying quality stocks will work over the long haul. But I want you all to stay with the market over the long term. If we get a severe correction, I don't want to see all of you bailing and moving on to some other investment idea. It is the long-term investor who sticks with hit through good times and bad that will be successful in the long term. I really believe this stuff.
I write up loads of stocks on this blog. Some do great and some do terrible. But overall I am satisfied with how they are turning out. My disciplined approach to my own portfolio will allow me to continue to weed out the weakest performing equities and replace them over time with new possibilities. I don't think there is any magic to what I do. Just lots of work.
So if you are starting out, slow down. Don't rush it. Listen to the market, listen to your portfolio, plan your moves before they are needed, and expect success. Thus, when success arrives, not because you are lucky, but because you stacked the deck with great stocks, you will not be surprised. You will react to success with equal discipline as you will respond to the occasional failure. And failure will occur.
So, as I head off for the evening, let me thank all of you for your loyal participation on this blog. Those of you who choose to enter comments and write questions, I offer you an extra big Thank You! For those of you who choose to visit, think about jotting me a line as well. Let me know what you think, whether the blog is helpful, and where I should go with this.
Thank you all for a wonderful four years blogging here at Stock Picks Bob's Advice!