Investing Tips From A Seasoned Investor’s Perspective Of Ups & Downs
Are you a seasoned investor yourself? You don’t have to be rich to be a seasoned investor. At 53, I’m not wealthy, but I do okay. I’ve been interested in the stock market since I was in high school. After beginning investing at 21 in real time, that gives me 31 years of solid investment experience. Currently, that means that investments would have been made from almost the turn of this century, which has seen some tumultuous economic times.
Think about the post 9/11 world, the economic uncertainty, albeit grave at times, paling in comparison to national security. Still, the economy took a hit, and then it took more than a hit several years later. We are still recovering from the stock market plunging to its lowest point in decades. However, if you look at the market today, it’s a great time to start investing.
It’s interesting because one could look and say that the big move was in 2009. I can tell you that many stocks, specifically blue chip stocks, were selling at a huge discount back then. Hey, big banks had collapsed, and people weren’t sure anymore about certain companies. Even staples like Coke and Walmart saw share prices drop. US Steel almost became a penny stock. Speaking of penny stocks, I have to tell you about this move and call that I made.
It was early in 2009 I believe, and the company was Sirius XM, then having merged with XM Radio in the months prior. It was close to entering bankruptcy, and it’s hurting stock price had plunged all the way down to 13 cents. Knowing the company full well and thinking the brand name alone was worth more than 13 cents, I figured its financing could be figured out somehow. Sure enough, John Malone came in and invested in or rescued the company, of course taking his share.
It saved the company, and the stock price, after dipping as low as 5 cents a share, continued on up to what is today just under 4 dollars a share. Sirius is a satellite radio company, so while still viable, isn’t set to be an emerging market leader at the moment. However, they have satellites in space and as technology continues to change, you just never know. Besides, satellite radio is almost the new terrestrial radio now, so maybe that would be a good investment. Either way, that was my one best call, and at almost 20,000 points, the DOW represents a flourishing market despite a struggling economy. That can make anyone uneasy, but if anything put your money in funds that can earn you a better interest rate than a savings account.