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Jeff Bezos and Me


MickinMD
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Jeff Bezos and I are two of the co-owners of the same company as of Wednesday!  I think he owns a little more than me.

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I've been very successful in long-term stock investing.  But the banking sector hasn't done much for me over the last decade. I read a study earlier this year that used data to show that the big banks underperform the S&P 500 long-term and 2008-9 proved they're not safe stocks. Warren Buffett dumped almost all his bank stocks this week, eliminating or severely slashing every holding - including J.P. Morgan, which is my biggest loser of 2020.

That was the last straw. I sold J.P. Morgan and intend to stay out of bank stocks.  I searched and searched for a stable company to replace J.P. Morgan in my portfolio for the long term and it came down to Amazon, because I wanted to diversify my mostly dividend paying stocks with more growth stocks.  But I didn't want to spend exact multiples of $3300+ - the share price - each time I wanted to add to my Amazon shares and I didn't want to get into various new-to-me small-purchase programs, so I bought the stock through its Direct Stock Purchase Plan (a DRIP through which you can buy your first shares) run by Computershare, where I also have other stocks.  It costs $5 to purchase stock and I don't like to pay more than 1% of the the purchase amount in fees, so I can buy fractional shares with occasional $500 purchases.

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I keep looking for an entry to MS. That doesn't look like it's going to happen. If I had the money, I'd go BLK. I don't, so I go home. I do have a piece of ASX. Technically not a bank but may hold a pivotal position if China deals go sour. I sold out of what little China I had in the middle of last year. I am also following my hero, @Razors Edge with NCLH. I am making swing trades and laughing all the way to the bank as he pours his life savings into it.

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3 minutes ago, donkpow said:

I keep looking for an entry to MS. That doesn't look like it's going to happen. If I had the money, I'd go BLK. I don't, so I go home. I do have a piece of ASX. Technically not a bank but may hold a pivotal position if China deals go sour. I sold out of what little China I had in the middle of last year. I am also following my hero, @Razors Edge with NCLH. I am making swing trades and laughing all the way to the bank as he pours his life savings into it.

I'd choose RCL over NCLH, but whatever floats your boat, man!

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