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  #1  
Old 01-22-2010, 12:32 PM
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Picking Stocks . . . Still a Gamble

Motley Fool Looks Back at their Worst for 2009

Overall, a portfolio equally divided among those 10 stocks would have risen an astounding 146% in 2009. Not exactly what we expected to see -- especially after making much better picks for 2007 and 2008.

The article also includes their "worst of 2010" . . . invest wisely.
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Old 01-22-2010, 12:39 PM
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I don't think I know anyone with enough time or info to invest in individual stocks correctly. Find a good mutual fund in the investment area you like.
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Old 01-22-2010, 01:41 PM
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I don't think I know anyone with enough time or info to invest in individual stocks correctly. Find a good mutual fund in the investment area you like.
I don't know anything about it but I good friend of mine who's a script writer is making decent money at the moment with buying and selling stocks. He sold a script last year for $ 80K and is using that money. Buys a lot of bio-tech. Trades in the morning, writes in the afternoon.
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Old 01-22-2010, 01:46 PM
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Overall, a portfolio equally divided among those 10 stocks would have risen an astounding 146% in 2009. Not exactly what we expected to see -- especially after making much better picks for 2007 and 2008.
Isn't hindsight wonderful.....
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Old 01-22-2010, 01:51 PM
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I don't know anything about it but I good friend of mine who's a script writer is making decent money at the moment with buying and selling stocks. He sold a script last year for $ 80K and is using that money. Buys a lot of bio-tech. Trades in the morning, writes in the afternoon.
If he can do it, good for him. I know that I'm not willing to spend the time and effort required to become an expert in specific markets and businesses. There is a reason that fund managers are paid very well.
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Old 01-22-2010, 02:38 PM
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If he can do it, good for him. I know that I'm not willing to spend the time and effort required to become an expert in specific markets and businesses. There is a reason that fund managers are paid very well.
Me either. Me 401k has been managed by an outside manager. I used to use a local guy, who saved me bacon in the 2008 freefall. We switched to a new investment platform with Nationwide in mid year and I turned the management over to Wilshire Associates. Between the two, total account value up 43% for the year.

On the other hand, I tossed 2,000 into a Roth IRA for my daughter back in 1998. It has rollercoasted up and down for 10 years and is back at 2,000.
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Old 01-22-2010, 02:39 PM
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The market has been tanking like a rock for the last three days. Not a fun time to be an investor.
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Old 01-22-2010, 02:49 PM
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The market has been tanking like a rock for the last three days. Not a fun time to be an investor.
It's still probably higher than it should be. It's been recovering too quickly, I don't trust it.
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Old 01-22-2010, 02:57 PM
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The market has been tanking like a rock for the last three days. Not a fun time to be an investor.
I have a client in Dallas who is retired and was a heavy day trader. I recall having a conversation with him in Dec. 08. I asked him if he was still day trading. He said no, it was too much effort for such little reward. When I looked at his tax stuff, it appeared that he turned his portfolio over about 7 or 8 times as his gross proceeds from sales were around 8.3 million. He lost 300k.

Invest smartly for the long term. Avoid reappraising your house every day.
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Old 01-22-2010, 03:04 PM
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It's still probably higher than it should be. It's been recovering too quickly, I don't trust it.
I agree. I also don't have much confidence that the "recovery" will be anything but slow and mild for at least a year. People have to work to spend.
But global hot money doesn't sit on the sidelines long. I think it was a driver of the '09 market. Will it stay or go elsewhere?
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Old 01-22-2010, 03:11 PM
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I have recovered most of what I lost in 2008 since March of 2009. I still have some huge tax losses from selling off stuff near the end of 2008, but I bought back most of the things I had sold during March and April of 2009. I have not seen any fund managers that inspired me with confidence. They inspire me, but not with confidence. Mostly, I feel envy. If I made as much as most of them do without doing any better than they do, I'd be pretty rich by now.
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Old 01-22-2010, 04:12 PM
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On the other hand, I tossed 2,000 into a Roth IRA for my daughter back in 1998. It has rollercoasted up and down for 10 years and is back at 2,000.
12 years with zero growth?

What was it invested in?
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Old 01-22-2010, 04:17 PM
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The market has been tanking like a rock for the last three days. Not a fun time to be an investor.
Make that four days of tanking......

Depends on what and when you're invested in, as to whether it's "a fun time to be an investor." I always have fun investing.
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Old 01-22-2010, 04:22 PM
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I have not seen any fund managers that inspired me with confidence. They inspire me, but not with confidence. Mostly, I feel envy. If I made as much as most of them do without doing any better than they do, I'd be pretty rich by now.
Pick your fund manager(s) very carefully. At least that's what I've done. I am down to two - and I'm thinking that's one too many for me.
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Last edited by Skid Row Joe; 01-22-2010 at 04:34 PM.
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  #15  
Old 01-22-2010, 04:28 PM
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I like Bill Miller. You can have the rest of them. If I ever buy another mutual fund, it will be an index fund.
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