19 Years under my belt: STMP
Most of you probably missed it.
Last Thursday (October 19th) was 19th anniversary of the famous "Black Monday"! Which means it is also my 19th year in stock investing. How time flies ...
On black Monday (October 19, 1987) the Dow fell more than 500 points. By the way, 500 points is a big deal even today with the Dow above 12,000. Back then, the Dow was just above 2,000 ! - can you believe it? I remember watching the CNBC on TV not believing what I was watching. No away, this must be a joke, I thought. Stocks fell every second without any support - it was amazing. Oh, most people don't even remember that the day before black Monday, Dow fell 190 points! So, we are talking about over 700 points in two trading days! Trust me, I kow what pain means...
When I first started buying stocks in 1987, I bought two stocks. Seagate Technology (was bought 0ut) and Mylan Labs (MYL). My third stock purchase was Owens Corning Fiberglass (owenq). Owens Corning is becoming interesting again - that's for later. Are you at all surprised that I remember my first three stock buys 19 years ago? When it comes to stock related information, I act like the "Rainman". I remember all kinds of craps.
Fast forward 19 years.
Last Friday, a new addition was added to our Acetrader portfolio. Stamps.com (STMP) was purchased at $15.08/share. This might go down a little more from here so use your discretion. Why did I buy it if I think that it could go down further? Because I know a value when I see one. Problem is that others do not see it the way I do. They might push it down further. If that happends, I will be happy - I will be a buyer, lowering my cost.
There were two stocks that I always wanted to buy but I felt that valuation was too rich for my blood. They are: Stamps.com (STMP) and Akamai Technology (AKAM). Now, finally, I can allow myself to buy Stamps.com and hopefully soon, Akamai will give me a chance too. Both companies are wildly profitable and growing. Some analysts however, turned negative toward these lately. Good for me - good for you as well. I will have a write up tomorrow after my chemo session at the hospital. Until then, do your own homework if you care to.
Today, I was at the NFL game in New Jersey (NY Jets vs. Detroit Lions). I have never been to a NFL game in my life. I have seen college games in the stadium but never the professional NFL games. What a day I had! I really enjoyed the game - the final score was 31 to 24 NY Jets. I now understand why the tickets are all sold out for the next few years in advance ( I mean the entire stadium of 70,000 or so seats). It is really fun. I am going to put meself in the waiting list for the season tickets. Hopefully I will get the chance in a few years :)
Money talks and bullshit walks.
No finance, no romance.
Are we all on the same page now?
P.S: Some of you might have been confused about my comments regarding the XMSR in my previous blog. Please note that it was under the "Trader" section of the article. For Acetrader portfolio, it is still a buy. XMSR is giving me a chance to buy it again. I'll take it - slowly.
PPS: Due to recent new highs in IGLD, it has grown substantially in size. I have sold some to raise money for the STMP purchase. I am still very bullish on IGLD's future prospects. Sometimes, you have to manage your portfolio where you have to sell things in order to raise money for the new players. We will see above average profit in STMP in a year or two.
Last Thursday (October 19th) was 19th anniversary of the famous "Black Monday"! Which means it is also my 19th year in stock investing. How time flies ...
On black Monday (October 19, 1987) the Dow fell more than 500 points. By the way, 500 points is a big deal even today with the Dow above 12,000. Back then, the Dow was just above 2,000 ! - can you believe it? I remember watching the CNBC on TV not believing what I was watching. No away, this must be a joke, I thought. Stocks fell every second without any support - it was amazing. Oh, most people don't even remember that the day before black Monday, Dow fell 190 points! So, we are talking about over 700 points in two trading days! Trust me, I kow what pain means...
When I first started buying stocks in 1987, I bought two stocks. Seagate Technology (was bought 0ut) and Mylan Labs (MYL). My third stock purchase was Owens Corning Fiberglass (owenq). Owens Corning is becoming interesting again - that's for later. Are you at all surprised that I remember my first three stock buys 19 years ago? When it comes to stock related information, I act like the "Rainman". I remember all kinds of craps.
Fast forward 19 years.
Last Friday, a new addition was added to our Acetrader portfolio. Stamps.com (STMP) was purchased at $15.08/share. This might go down a little more from here so use your discretion. Why did I buy it if I think that it could go down further? Because I know a value when I see one. Problem is that others do not see it the way I do. They might push it down further. If that happends, I will be happy - I will be a buyer, lowering my cost.
There were two stocks that I always wanted to buy but I felt that valuation was too rich for my blood. They are: Stamps.com (STMP) and Akamai Technology (AKAM). Now, finally, I can allow myself to buy Stamps.com and hopefully soon, Akamai will give me a chance too. Both companies are wildly profitable and growing. Some analysts however, turned negative toward these lately. Good for me - good for you as well. I will have a write up tomorrow after my chemo session at the hospital. Until then, do your own homework if you care to.
Today, I was at the NFL game in New Jersey (NY Jets vs. Detroit Lions). I have never been to a NFL game in my life. I have seen college games in the stadium but never the professional NFL games. What a day I had! I really enjoyed the game - the final score was 31 to 24 NY Jets. I now understand why the tickets are all sold out for the next few years in advance ( I mean the entire stadium of 70,000 or so seats). It is really fun. I am going to put meself in the waiting list for the season tickets. Hopefully I will get the chance in a few years :)
Money talks and bullshit walks.
No finance, no romance.
Are we all on the same page now?
P.S: Some of you might have been confused about my comments regarding the XMSR in my previous blog. Please note that it was under the "Trader" section of the article. For Acetrader portfolio, it is still a buy. XMSR is giving me a chance to buy it again. I'll take it - slowly.
PPS: Due to recent new highs in IGLD, it has grown substantially in size. I have sold some to raise money for the STMP purchase. I am still very bullish on IGLD's future prospects. Sometimes, you have to manage your portfolio where you have to sell things in order to raise money for the new players. We will see above average profit in STMP in a year or two.
posted by Jaewoo | 9:17 PM
1 Comments:
Congrats Jaewoo! Wow, i dont think my stomach could have taken the black Monday.
With all those years and a few occasional homerun stocks, you should be a zillionaire by now. :)
Good luck with your chemo tomorrow.
-Jo
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