Does it evoke the same feelings of nostalgia as your first kiss? Probably not…
When I look back on what I have learned about investing, it always gives me a good laugh to remember how smart I thought I was when I started this whole investing thing.
I was a 19 year old college student ready to take on the world. I still remember sitting in the computer lab with my boyfriend opening my first E*TRADE account. I was only vaguely familiar with investing from hearing my dad talk about it. My boyfriend had a “hot stock tip” (again something I have learned to STAY THE HELL away from) and I wanted to get in while it was still cheap – another term I really didn’t understand until much later. As you will see from the below, I had a great first experience but it could have failed miserably and maybe I would have been turned off investing for good – who knows?
- What was your first investment: Stock/Lions Gate Films (LGF)
- Age at first investment: 19
- What were you doing then: I was a full time college student at Boston University and a part time teller at Bank of America
- Why did you start investing: My boyfriend suggested it – super lame I know…but he is my now husband so maybe that makes it a little better?
- What did you buy at: I am estimating here but I bought around November/December 2003 and the stock was around $4 or $5
- What did you sell at: Again estimating, but I sold around December 2004 and the stock was around $10.
- Current price: $19.77
- Why did you sell: I was doing a study abroad trip and I needed the $$
- What did you learn: at the time I learned “wow the stock market is an easy way to double your money!!” Now, I just think that I was very lucky to make such a great return in little time with no research. Also, it is better to buy stocks you believe in and hold for the long term!
Now let’s fast forward to today and see what if anything has changed:
- What was your last investment: ETF/DGRO – iShares Trust Core Dividend Growth
- Age at last investment: 30something
- What were you doing then: I was a full time investment analyst
- What did you buy at: $27.39
- What did you sell at: Haven’t sold yet and don’t plan on it for a while
- Current price: $27.20
- Why did you sell: N/A
- What did you learn: Not much yet because this purchase just happened in September! However, I am a huge fan in index funds with low fees and dividends instead of individual stocks.
What was your first investment? What have you learned since then?