As I may have stated before, There’s a lot of different things I’ve been wanting to learn a lot more about. I’m one of those people that tends to read and study just a little too much without just jumping in and getting started. So in the spirit of what DaddyBe is all about I’ve decided to make an action I took today a part of this blog. I’ve had a TD Ameritrade account for years and for the most part I haven’t done much with it. My father has urged me for some time to start learning how to trade and like many a sons I’ve listened but never really followed up with any action. Towards the end of this past year I started depositing $20 into this TD Ameritrade account every couple of weeks in hopes of making some stock purchases whenever I see something I feel is worth purchasing. Last week I did a search for good stock in the $10 and under per share range and Sirius XM (SIRI) is one that emerged as leader in terms of what I was looking for. A couple days later I asked my Dad if he knew of any low priced stock that was worth a shot and Sirius was one of the first names he suggested so for the most part that cemented my decision to purchase some of it. Although my father recommended Sirius as more of a long term stock I am really just going to use this purchase as a way to learn and hopefully over the course of this year I will make many more small, quick grabs and keep you posted on how they are panning out. As you can tell, I’m not working with a lot of money at this point but at the end of the day if after a 7 months to a year from now I sell the quick grab stock for a profit I will consider it mission accomplished. Today I purchased 25 shares of Sirius XM stock at 5.12 cents a share. There were a few reasons I decided to make this purchase:
- It emerged as a top 5 for the price in several different articles I read.
- My Dad likes it (hey, might not be a good reason to you, but my Dad is right a lot of the time).
- Sirius XM reached a record high annual sales mark
- Profits are rising at a pace much faster than previously anticipated.
- They have strong cash flow
- Last, but not least, Buffet recently bought a bunch of it.
Just in case you can’t tell, I am not an expert in the least bit. This is all learning on the go for me. I just felt it would be cool to document it in this way and hopefully I can gain some insight from you or maybe even come to find that my logic isn’t that bad after all. Most of all I just want to show what I learn as I learn. And if there’s anyone out there who’s has been putting off getting started with it like I have, maybe this can serve as a guide and/or encouragement. I have to tell you, this isn’t the first bit of stock I’ve purchased. I bought some World Moto penny stock a while back and it’s more worthless now than it was when I bought it (and I didn’t even think that was possible). But I still have it and I’ll probably just leave it be in hopes that they will find a way to work a miracle. So to sum it all up:
This is my first Quick Grab.
- 25 shares of Sirius XM stock at 5.12 a share
I’ll try to make a quick grab at least once a month. And we’ll check them from time to time and see how they are coming along. At some point towards the end of the year I’ll sell all of the quick grab stock and we’ll see if it’s for profit or for loss.
If you’ve made it to this point thanks for checking it out Talk to you soon.