AUTHOR: H S on 7/13/2024 FIRST: Edmund Marsh on 7/13/2024 | RECENT: Alex McCusker on 7/26/2024
Comments
What am I doing? The same as the Covid crisis, 9/11, dot com bust, 20% inflation during Cater’s time, S&L crisis and the energy crisis. Not a whole lot except ignoring all the pundits regarding finances. Not even remotely making light of any of this, but this too will pass.
Like others I start with the line, how much time do you have. I started investing in stocks as a teenager from a job as a grocery clerk that started at $1.65 hour. By my early twenties I had a portfolio of around $25,000. Recognizing my stock picking brilliance and with the full support of my stockbroker I jumped head first into options trading. This was before the time of discount brokers. Within two years my 25k turned into $600, but at least my broker did ok with all the commissions from my trades. The good that came from this was I realized investing is not to be treated like Vegas and I got serious about it. When I read stories about all the young people day trading on Robinhood I am not too critical of them. That was me a long time ago and hopefully they will learn the same lessons I did.
Like others I have an Apple story. I actually owned 500 shares for several years. Never made much from it and eventually sold it for around $12 a share. Oh well!
Four years ago the Marshall fire here in Colorado destroyed around 1000 homes. Everything you point out for problems is true here. There are still plenty of homes that have not been rebuilt as off yet. You start off by staying with friends, family or a hotel. Then you realize this may take years. The red tape has been a nightmare for many. Adding insult to injury here all the homeowners that lost everything are still responsible for their HOA fees. They went to court over this but lost. There are people that just said screw it and choose not to rebuild. Colorado has become much like California ( sadly in just my opinion) politically. Seeing what the people here have gone through I truly feel sorry for what’s coming to the people in California that have lost everything. To answer your question would we rebuild here in Colorado my guess is extremely unlikely.
My first stock purchase was when I was 17 in 1974. Since I was under 21 had to convince my parents to open the account with them as custodian. Went with Merrill Lynch, there were no discount brokers at the time. I bought 50 shares of Sony at $5 a share. The commission was around $24. Why Sony, because back then they had the best color tv. Good enough for me. I still have the paper confirmation of the trade that they would mail to you. Around a year later sold my shares for a little over $10. At the time I was working in a grocery store making $2.25 an hour. I tracked the price every day and could not believe how easy it was to make money in the stock market. The Dow was around 600 at the time. That started my lifelong investing interest. Eventually I did learn stocks also do go down. Who would have known that!
Working in the grocery industry I had my share of rude customer encounters. I rarely took it personal, it was just about something with the store. One day a woman approached me to ask about a product that was empty on the shelf. I told her we were probably out but would check our back room. She proceeded to explode and completely went over the top in her rudeness. I went into the back room and happened to find the item she wanted. I thought what a witch and would be happy to be done with her. When I brought her the item(Oreos) she took it and proceeded to break down crying. She apologized for being so mean, but said she had just dropped off her sister from her doctor appointment. Her sister had terminal colon cancer and was going to be entering hospice. I started talking to her because my mom had died from colon cancer just a month earlier. Now we were both crying .Customers walking in the aisle were definitely looking. Once in a while that person you encounter who is being a jerk might just be having one of the worst days of their lives.
Comments
What am I doing? The same as the Covid crisis, 9/11, dot com bust, 20% inflation during Cater’s time, S&L crisis and the energy crisis. Not a whole lot except ignoring all the pundits regarding finances. Not even remotely making light of any of this, but this too will pass.
Post: Tariffs and our retirement assets
Link to comment from April 4, 2025
Listen more, talk less
Post: Help Wanted
Link to comment from April 2, 2025
Post: How’s Your Crystal Ball? By Jonathan Clements
Link to comment from April 2, 2025
Quite the story too share, so sorry about your cancer.
Post: My Mistakes by Jonathan Clements
Link to comment from February 23, 2025
Like others I start with the line, how much time do you have. I started investing in stocks as a teenager from a job as a grocery clerk that started at $1.65 hour. By my early twenties I had a portfolio of around $25,000. Recognizing my stock picking brilliance and with the full support of my stockbroker I jumped head first into options trading. This was before the time of discount brokers. Within two years my 25k turned into $600, but at least my broker did ok with all the commissions from my trades. The good that came from this was I realized investing is not to be treated like Vegas and I got serious about it. When I read stories about all the young people day trading on Robinhood I am not too critical of them. That was me a long time ago and hopefully they will learn the same lessons I did. Like others I have an Apple story. I actually owned 500 shares for several years. Never made much from it and eventually sold it for around $12 a share. Oh well!
Post: My Mistakes by Jonathan Clements
Link to comment from February 23, 2025
I want to compliment you on such a well written column. For me this was one of the most thought provoking posts I have read on this site.
Post: Would You Rebuild?
Link to comment from January 12, 2025
Four years ago the Marshall fire here in Colorado destroyed around 1000 homes. Everything you point out for problems is true here. There are still plenty of homes that have not been rebuilt as off yet. You start off by staying with friends, family or a hotel. Then you realize this may take years. The red tape has been a nightmare for many. Adding insult to injury here all the homeowners that lost everything are still responsible for their HOA fees. They went to court over this but lost. There are people that just said screw it and choose not to rebuild. Colorado has become much like California ( sadly in just my opinion) politically. Seeing what the people here have gone through I truly feel sorry for what’s coming to the people in California that have lost everything. To answer your question would we rebuild here in Colorado my guess is extremely unlikely.
Post: Would You Rebuild?
Link to comment from January 11, 2025
I taped a blueberry to a sheet of paper. Exclusive offer for HumbleDollar readers the bidding starts at $100,000. Act fast.
Post: Worth Repeating
Link to comment from December 30, 2024
My first stock purchase was when I was 17 in 1974. Since I was under 21 had to convince my parents to open the account with them as custodian. Went with Merrill Lynch, there were no discount brokers at the time. I bought 50 shares of Sony at $5 a share. The commission was around $24. Why Sony, because back then they had the best color tv. Good enough for me. I still have the paper confirmation of the trade that they would mail to you. Around a year later sold my shares for a little over $10. At the time I was working in a grocery store making $2.25 an hour. I tracked the price every day and could not believe how easy it was to make money in the stock market. The Dow was around 600 at the time. That started my lifelong investing interest. Eventually I did learn stocks also do go down. Who would have known that!
Post: No Barriers to Entry by Jonathan Clements
Link to comment from December 28, 2024
Working in the grocery industry I had my share of rude customer encounters. I rarely took it personal, it was just about something with the store. One day a woman approached me to ask about a product that was empty on the shelf. I told her we were probably out but would check our back room. She proceeded to explode and completely went over the top in her rudeness. I went into the back room and happened to find the item she wanted. I thought what a witch and would be happy to be done with her. When I brought her the item(Oreos) she took it and proceeded to break down crying. She apologized for being so mean, but said she had just dropped off her sister from her doctor appointment. Her sister had terminal colon cancer and was going to be entering hospice. I started talking to her because my mom had died from colon cancer just a month earlier. Now we were both crying .Customers walking in the aisle were definitely looking. Once in a while that person you encounter who is being a jerk might just be having one of the worst days of their lives.
Post: Quality of Life by Marjorie Kondrack
Link to comment from November 24, 2024