Taking The Risk – Buying Stocks!
Filed Under (Chatter, Daily Posts) by Cynthia on Mar 12, 2009 8:53 am
Tagged Under : Chatter, Finances
Okay.. I’m gonna do it. I started up an account with Zecco.com which is a basically free online stock trading website. Not completely free, they charge $4.50 per trade. But I think I can swing that!
So I’m ready to spend the big bucks! I transferred a whopping $30.00 into my account, and I’m willing to by an entire 10 shares of Fanny Mae Stocks! Okay okay, at $0.40 cents a share, that’s really not that much money. LOL $8.00ish including the $4.50 per trade fee. So here I go, joining the online trading market!
Why Fanny Mae? Well, I think they are pretty secure because the government can’t let them fail. Not only because it’s so huge in the USA. Also, 10% of China’s GDP is invested in Fanny Mae. Weird, huh? Fanny Mae was up to $68.00 a share back in 2007, so there’s actually some potential here to make some money! If the shares go up to, say, $40 a share, my 10 shares would be worth $400! Maybe with that I could afford some wedding invitations! Not that I’m going to need any… lol
And I figure the worse that can happen is the value goes down even lower. But it can’t go any lower than $0.40 cents lower at this point. LOL can stocks have a negative value?
I don’t know anything about the stock market, actually. It’s just too tempting to go and buy some of these cheap stocks and see what happens. I won’t trade a lot. I’ll just buy and sit on them. Maybe 10% of my GDP will end up in stocks… LOL. Or maybe that’d be my GPP… Gross Personal Product.
I’m also thinking of buying some stocks in Citigroup, because they have tanked. And they are just over $1.50 per share now. And maybe some stocks in solar energy, too.
I have a whole $30 to spend, I’m one of the big spenders now!
On this day..
- My Nose and My Ear - 2010
- Waiting for Spring - 2008
- Fading Fast... - 2008
you are a braver woman than I am
Leighs last blog post..The Kiddo
hehe. It’s only $30… I can afford to lose that!
“But it can’t go any lower than $0.40 cents lower at this point. LOL can stocks have a negative value?”
They could suspend trading in them!
Actually, as long as you aren’t trying to turn a quick profit, the stock market holds little risk for smaller investors. Stocks have gotten so low they practically have no other way to go but up. Conversely, even if the stocks go down, you don’t lose much. Old investors are the ones that are hurting, the new investors will be profiting. You have made a very wise investment.
I think its a Great Idea! Every one at work is thinkin’ the same way; thats its a great time to buy. and really, ya cant go wrong. I think so anyways!
You might check into the website of this nonprofit corporation, the National Association of Investors Corp. at http://www.betterinvesting.org/public/default.htm
They have lots of educational material to help you learn how to invest in stocks.