MickinMD ★ Posted August 19, 2020 Share #1 Posted August 19, 2020 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. 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. 1 Link to comment Share on other sites More sharing options...
Mr. Silly Posted August 19, 2020 Share #2 Posted August 19, 2020 1 hour ago, MickinMD said: 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. I have a similar relationship with Bill Gates. Link to comment Share on other sites More sharing options...
Kirby Posted August 19, 2020 Share #3 Posted August 19, 2020 Good ,now I know whom I can complain to when my deliveries are late!! 1 Link to comment Share on other sites More sharing options...
jsharr ★ Posted August 19, 2020 Share #4 Posted August 19, 2020 Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted August 19, 2020 Share #5 Posted August 19, 2020 4 hours ago, MickinMD said: 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. I'd think, by default, most Americans with retirement savings are part owners of Amazon, Apple, Google, etc. 1 Link to comment Share on other sites More sharing options...
donkpow Posted August 19, 2020 Share #6 Posted August 19, 2020 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. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted August 19, 2020 Share #7 Posted August 19, 2020 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! Link to comment Share on other sites More sharing options...
donkpow Posted August 19, 2020 Share #8 Posted August 19, 2020 1 hour ago, Razors Edge said: I'd choose RCL over NCLH, but whatever floats your boat, man! Link to comment Share on other sites More sharing options...
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