07-01-2020, 08:11 AM
(06-30-2020, 03:46 PM)lucas03 Wrote:I'm sure a few here will help you but step one is not disappearing for months or we are wasting out time. I;ll drop a few bullets and wait for your followup.Quote:Invest in what you are knowledgeable about or interests you" is a great place to start a portfolio. You tell Eric and I what interests you and we can help you pick some of your stocks to match your passions. Computers, aviation, medicine, finance, recreation, whatever it may be....
Sounds good, where do we start?
I didn't wanna focus on one area, as I assume I should be diversified across more sectors. Also I've heard some are cyclic, so I assume if I have more, I always can buy some companies in some sectors if they are down in particular season.
I work in IT, so that would be my area to focus on.
And recently I was thinking of buying a bank. I was looking into JPM and BAC, but they look very similar to me.
Do stay diversified. I'm not a techie but others here have some insight. You shuld own a tech stock because that is your expertise. I would study a few tech stocks hard, and hope for a dip. Or buy one share of a rock steady blue chip like MSFT soon. Someday you may get a chance to add some cheaper shares. CSCO seems to be safe enough tech that isn't overvalued and has a solid Div. CSCO is not going to run to the sky though.
I don't recall your current port but you might throw it up and we can suggest a few to dump and re-allocate.
A bank is not a terrible idea. Div cuts are very possible if interest rates remain ultra-low, and that is likely. Definitely stick with quality. JPM and BAC are quality. The low share price for BAC might work best for you now.
Go easy on the spec stocks right now. Many of them are likely to get smoked some month soon and that is a motivation killer for a newish investor. A little spec is OK if you have a rational thesis why they survive a tough economy.