Sure, the Dow Jones may not be back above five figures yet, but anyone who decided to invest in those stocks that everyone used to criticize like Ford, Sirius XM, and Bank of America…well, let’s say that we’re doing pretty good right now!
Sirius XM closed around 68 cents today. So…for those of us who bought it at 11 cents, that’s not a bad gain, huh? 🙂
One of my roommates and I are somewhat “new” to the investing game and while other people are talking about how bad they are losing money, we’re both up over 100% in our portfolios. In fact, as of today my stock portfolio is up over 150%. I think the reason why we’re up so much is – first and foremost – that we bought when the market was low and everyone thought that the world was going to end. When people are dropping the value of stocks based on fear and paranoia, you have to jump in and buy.
However, I think that one of the reasons why we’re both doing so well is that we’re purchasing stocks with which whose products we are familiar with on a personal level. For example, I invest in Sirius XM because I know that they have a quality product (unless you’re one of these people who have the service for Howard Stern alone, then you might be annoyed at the 10 weeks of vacation that he takes every year). But when it comes to commercial-free music and something to listen to during the work day, no one can deny that Sirius XM is a great product.
Anyway, the reason for writing this post is to tell the everyday people out there that they can invest in the stock market and find success.