Stock portFOOLio

During and after the market hours I tend to glance at my stock prices on Yahoo Finance, but I don’t really look at my gains/losses as I am currently going very long on my stocks. The little changes no longer concern me.

Turns out Fortune Brands (FO) has been sitting in my lazy ‘ol portfolio gaining green. As of today I am at a %17.72 gain on Fortune Brands which equates to a $270 profit.

I remember Charles Kirk (TheKirkReport.com) saying, “Investors are often willing to hold onto huge losses, but sell too early when they start making huge profits”

Point is, I’m not going to sell Fortune Brands for a very long time. One thing I was proud of was my non-reaction to the news of my gains. When I first started trading my heart would beat faster while just logging in to check my stocks.

I’m beginning to think with a clearer and more rational mind than in the past. I have TheKirkReport to thank for this, I think I might drop him another donation soon!

On another note…..

I started a new business two days ago which I think can make me approximately $200-300 in extra income a month. This business will require even less work than my current online business. I will post the business on this site in about two weeks . Total business costs so far: $9.20

Blog posted on: April 13, 2005

7 comments on “Stock portFOOLio

  1. Holden

    I am always trying to start a low income, low maintenance business on the side, but I never get good ideas. Where does your inspiration come from? And what is your new business?

    Reply
  2. Anonymous

    This is a great site I just stumbled across. Good luck on achieving your goals! In fact, you’ve motivated me to do similar. I’m involved in a couple online businesses so I never get up and work 9-5, but I’ve just got $10K sitting in a freaking checking account! What a waste…I’m going to keep reading for ideas on how to get started investing.

    Reply
  3. Neville

    Thanks Anonymous!

    After I had started my first online business and a few other ventures later, I still had only one checking account with $20,000+ sitting in it. I would then have to write huge $12,000 checks for expenses etc, so I never really knew exactly how much money was actually mine after expenses.

    That is why I have the system I have today of opening up a million checking accounts. It’s not cool as one giant checking account, but I can easily identify where every penny is going.

    Hope you keep reading, and let me know what your businesses are!
    -Nev

    Reply
  4. Kate Bean

    Nev,

    Do you have accounts open at multiple banks? I used to do that, but right now most of it is funneled into my ING account. How do you keep track of them?

    Thanks,
    Kate

    Reply
  5. Anonymous

    Cool online store! I am currently trying to start an online baby store but I am having trouble getting reasonably priced products/inventory to resell. Where do you source your products that you sell online? How did you initially identify them? I would appreciate any advice. Thanks!

    Reply
  6. Neville

    Kate,

    I have 7 Bank of America accounts where I keep my cash and two Ameritrade accounts. Both Bank of America and Ameritrade kick ass…ESPECIALLY Bank of America.

    All my accounts show up on one page and I can immediately transfer funds between each 24/7.

    ALL money that comes in or out of my hands goes through the General Account, this way I only have to carry one card instead of 7.

    Example: I am going out on a Friday night with some friends. I need $40 for the night, so I withdraw the $40 from an ATM. The $40 is deducted from my General Account.

    Once I get a chance, I login to Bank of America and transfer that $40 from my Spending Account to my General Account.

    The accounts are all free and can be opened up and ready to use in about two days. I also know EXACTLY how much money I have available to spend, invest, save etc.

    -Nev

    Reply
  7. Anonymous

    You seem to be doing good in you rstock portfolio. Where do you get advice on how and when to buy and sell. Since you seem to be good at pickin stocks a section on stock picking would be a good addition to this site!

    Reply

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