Getting Caught up with Recent Buys
Not going to lie to you, keeping up with a blog is tough. I’ve been slacking on you WalletSquirrel. WalletSquirrel grew from such a GREAT concept of earning money beyond the day job and I need to play catch up a bit with my most recent stocks before I continue my financial freedom journey.
Recent Buys
I went against my better judgement bought an oil stock. I bought The Chevron Company (CVX) for 4 shares at $90.01 with the intention of hoping on the bounce back of the oil market. I liked it’s $11.33B they had in total cash and they were using this downtown as an opportunity to restructure and run a leaner company. Plus I loved the dividend yield of 4.54%. However once I bought it, it was still fluctuating all over the place and when I asked myself, has the oil industry really bottomed out? And since I know NOTHING about the oil industry, I pulled out of Chevron at $90.94 for a $11.72 profit.
I do this whole, impulse buy and sell right away, A LOT. I need to work on impulse control, but while I keep making money it’ll be hard to stop. Especially with a $0 trade fee each time with Robinhood.
Otherwise I’ve really been averaging down with a lot of stocks. This last month I’ve averaged down with Clorox (CLX), Wells Fargo (WFC), Coca-Cola Corporation (KO) and Verizon (VZ). Now what was the main reason I averaged down? Frankly I had the capital and didn’t have time to do the in depth research. I’m not sure if this was a bad plan, but I knew I liked these companies and while their stocks were down, I pounced. Like a lemur.
Wallet Squirrel is a personal finance blog by best friends Andrew & Adam on how money works, building side-hustles, and the benefits of cleverly investing the profits. Featured on MSN Money, AOL Finance, and more!
WS,
Nice with the averaging down! If I was you I would have kept CVX they won’t be going anywhere anytime soon along with Exxon. Those 2 will be around for the next 20+ years, I would say pick up some KMI but I don’t know your risk tolerance. haha but they are a great company!
Just keep the dividends flowing!
DM
Yea I’m looking at CVX right now at $97 which is fantastic, but sad that I sold it at $91. However since I sold it at a profit, I didn’t lose any money just the opportunity to earn more. I can live with that. Maybe once I get a better understanding of the Oil and Gas business I’ll hop back in, but for now I’m trying to focus on businesses that have reoccurring monthly revenues like Verizon, REITs, Aflac….. ok well like most of my portfolio. I love subscription pay models. Maybe my next post will be on subscription business plans actually…..=)
WS,
I completely understand! haha keep up the good work!
DM
All great stocks to average down on. I don’t hold CLX or KO yet, but I plan an adding them sometime in the future when their stock prices dip.
I am definitely able to commiserate with you on getting behind on keeping a blog up to date, making regular posts etc. Especially if you are making a lot of smaller purchases; have free stock buying and selling sounds pretty great! Although I think it might be part of the reason as you put it to so ‘compulsively buy’. There are times when I would have loved to have deployed just $300-400 on a big dip down on a stock, but wasnt sure exactly where it was going to go. And with even $5 trading fees it keeps me off those smaller purchases. Sometimes it turned out well, other times I missed out.
Averaging down on stocks that you are comfortable with is usually a good thing. 🙂
Thanks Dividend Wisp! Yea I think I’d be hesitant with a $5 trading fee as well. I still have so little available cash (hopefully steadily increasing) to invest that $0 trading fees really help.
As for more regular posts, that’s always a challenge, but the last 3 I’ve done have received so much positive feedback that I’ll try to keep up longer, more graphic appealing content. While I can’t do quality (more than once a week) I can definitely do quality with awesome graphics that tell a story. =)