Filed under: Uncategorized
Although I stopped writing for the blog, I continued making my purchases for the Prudent Investor Portfolio. All purchases were made through Zecco.com because they offered free trades, and the purchases were based on this premise.
Alas, the promise of free purchases was too good, as I just received an email telling me that as of 1 March they will start charging $4.50 for each purchase. Needless to say, this changes everything.
It was my belief that I had chosen excellent companies that will look very good when the financial mess in our country is finally straightened out, but I was counting on continuing with regular purchases as we continue to slide down, then finally move back up. A $4.50 charge for a $100 purchase obviously makes no sense, so the whole idea of the portfolio no longer makes sense.
So I will no longer make purchases through Zecco.com and will continue to build wealth through my DRiP Portfolio, where I make my purchases without charge.
In parting, I will suggest a visit to DRiPInvesting.org, where you will find a large community of individuals interested in building wealth a little bit at a time.
Cheers -
george
Filed under: Update
I was on vacation in Scotland, so I could not make my regular purchase on the 7th of the month.
Purchased: WL 4 shares @$30.25
Filed under: Update
I forgot to make an entry for last month, so here are the latest two purchases:
9 June – Purchased 2 shares of CHTT at $61.65
8 July – Purchased 4 shares of WL at $24.27
Last week I realized that I had not funded my account and only had enough money to purchase two shares of WL. Today I saw that the account was funded, so I purchased four shares of WL at $29.61. This completes the initial purchase of WL. I will probably buy more over the next few months, not only to bring the position closer to the level of the other three, but also because I expect to see banks continue to struggle over the short haul. Since these are long term positions, making purchases at this point are the right strategy to follow.
Purchased 2 shares of WL at $32.23 per share. Why not 3 shares? I forgot to fund my account and did not have enough. <g> I will purchase 4 shares next week to complete the initial position.
