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Stock Picks Bob's Advice
Monday, 24 January 2005
A Reader Writes "Do you know any stock I can buy...?"

Hello Friends! I hope you all had a great weekend. As always, please remember that I am an amateur investor, so please consult with your professional investment advisors prior to making any investment decisions based on information on my website, Stock Picks Bob's Advice.

Checking my mailbox, I was delighted to find a letter from a reader, LP who writes:

Hello Bob,

I have read and follow up on your blog for a few months now. I am very new
in the stock market and I am recently graduate from Michigan State
University. I have a job now. I would like to invest in some stock and
hopefully I can make some tuition payment.

I don't have much money to buy any stock that have more than $5.00 a share.
Do you know any stock that I can buy from sharebuilder.com give me a great
outcome within a year????

Thank you so much for you advice.

Regards,


LP


First of all, thank you for being a reader here. Without readers, there wouldn't be any point for me in writing, would there? And congratulations on your recent graduation from Michigan State. I am glad you are starting to think about your future and starting to invest.

As you know, I am not a certified advisor, so I cannot tell you specific stocks that would be appropriate for you.

We are back again to the question of stock price. I believe that the point of investing is not to accumulate a large number of shares of a relatively lower quality stock or a small number of shares of a higher quality issue. The point is to invest the same amount of $'s in stocks that are likely to appreciate in value. And be a relatively safe investment for you.

On my blog, I have been searching for what I believe to be "quality" issues. These are companies with good recent results, solid Morningstar evaluations, and relatively positive charts. I have a hard time finding these kind of stocks in the $5 or less group!

In addition, I have been selling stocks at 8% losses, and almost every time I buy a cheaply priced stock, I tend to hit that 8% stop right away!

As you can tell, I am not into the "get rich quick" type of schemes. With Sharebuilder, I believe you can buy any price stock with any amount of $'s. I don't use Sharebuilder so please correct me if I am wrong. As a relatively young investor, please start out buying stocks of the highest "quality" you can find. You can develop your own measure of quality, or adapt some of mine!

It is far more important to own stock in companies with solid futures than investing in speculative stocks with certain stock price features (like low cost/share). You are far more likely, imho, to accumulate wealth by a steady, reasoned approach, then to succumb to the temptress of the penny stocks and cheap stocks.

I hope that this answers your question! Good-luck and please write back and let me know how you are doing!

Bob

P.S. If you or any other readers have questions or comments, please feel free to email me at bobsadviceforstocks@lycos.com . While I cannot give individual advice, I am happy to discuss philosophy of investing here on the blog!


Posted by bobsadviceforstocks at 1:43 PM CST | Post Comment | Permalink

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