Okay, there’s 12 people in the Stock Competition so far. If you’re interested, sign up. It’s never too late to beat me

I’m fairly new to the stocks game, mainly because this is the first time I’ve had any money to play with. So, I thought I’d do a few different things at once.

First, I wanted to give myself the effect of a “mutual fund”, so I purchased 10K each in 10 tech companies that are either stable or (I believe) set to grow. Technology’s my industry, which is why I’m buying here. If gardening is yours, you may want to stay away from the Apple Computers of the world.

Here’s my little mutual fund, which might just ring in an overall profit over the course of this. Even if it does though, the intent is to balance the portfolio with this:

google - goog
yahoo - yhoo
sun - sunw 3000
microsoft - msft
ebay - ebay
amazon - amzn
nvidia - nvda
nortel - nt
red hat - rhat
apple - aapl

After spending this 100K, I then went and invested 200K in a handful of companies that I felt should exhibit various degrees of growth, based on where they’re positioned:

dell - dell (it’s their end of year soon, I’m expecting them to post good results)
disney - dis
nortel - nt (not so much expecting good results, as realizing that no bad news is good news, and this stock should grow a touch as a result)
google - goog (well, what can I say… 300% growth in a year is hard to argue with… they won’t keep it up, but growth has been very good the last few months)

Finally, I decided to put some cash into something a touch more high risk, Novell. Their quarterly results are due out soon, and the stock’s been depressed as a result. I expect it will stay that way for a few weeks, and then pick up in the leadup to Novell’s yearly conference.

Sadly, picking this stock lost me nearly 8000$ in the first day, so I may have to dump it. We’ll see.

Overall I’m up 2K on my first day. Which isn’t bad. But it would have been closer to 2% if I hadn’t picked up Novell.

This entry was posted on Thursday, May 26th, 2005 and is filed under Stock Competition. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.