Stock ownership among baby boomers is concentrated among that generation’s wealthiest members. The top 5% (in terms of net worth) own 77% of all equities owned by the entire boomer generation.
Sold my google shares so had cash not at work. Instead of reinvesting in GOOG, went with QIHU as it’s suppose to be an emerging threat to Baidu. Research mainly consisted on IBD stock rating and reading articles about them. Is this going to a long term or short term play not too sure. Probably should asked some people I know in China exactly how much momentum QIHU really has. Well I’ll see how its results are on 5/20.
Had setup a sell limit order for GS and it got executed 5/14. Forgot what price I even had the sell limit at.
Reason for sell:
GS has really lagged the S&P since I bought it. Originally it was a diversification play but of course buying it right around the financial crisis was not a good call. Now, I’m not comfortable with owning GS outright as I’m not sure exactly what business they’re in plus the stress test result. I think financial institution are a bit riskier play these days. Plus owning Berkshire gives exposure to GS anyways.
Bought: 5/11/10 @ 142.25
Sold: 5/14/13 @ 151.53
Total Return (incl dividends + commission): 9.5%
Return based on Stock Price: 151.53-142.25/142.25 = 6.52%
Return vs S&P: -37.75%
Failure. S&P returned ~44% during the exact same time period. And that is why I need to make sure my individual stock picking is only a small % of the overall.
Talk about a hot market. Looks like this will be at least 9% over asking price. Albiet listing price was a bit on the low side. Here’s a timeline of this house that I put an offer on.
4/12 House listed at 399K
4/15 Went to look at the house.
4/16 I put an offer on the house at 426K 20% down,
4/17 Received a counteroffer with the contingency of the next offer at 434K or best and final.
4/18 My counter offer was at 436K.
4/19 Reply from seller’s agent:
The Sellers selected another offer that was a bit higher with larger down payment also.