[Ed. note: Today we have another article from Jim Skelton, the Blind Squirrel, who writes to share what he learned about investing in his many years in the trenches as a financial advisor. He has agreed to our trading restrictions, the opinions he expresses are his own, and we haven’t reviewed, approved or screened his ideas. His previous articles can be seen here.]
Greetings once again to all the Gumshoe Nation! Your resident Blind Squirrel here once again to share some thoughts and musing I hope you may find helpful in the quest for investment excellence. By choosing to devote time to reading the posts here by Travis, our intrepid leader, Doc Gumshoe, Myron Martin, and the newest (and most welcome!) addition to the lineup, Dr. KSS, you’ve already demonstrated the desire to become better and more well informed investors. Especially those of you that have chosen to step up to the esteemed level of an ”Irregular” member and get all the news and comments in expedited and consolidated manner. Not to mention the material that is simply unavailable to non-Irregular readers. If you’re not Irregular, well then, you’re simply Regular. Who wants to be thought of as ”Regular?” Sign on today! Best $49 bucks you’re likely to spend all year. BTW, Travis doesn’t pay or even encourage me to say things like that. It’s just how I feel.
Let’s get on with it now.
Before I start to discuss this months topic – ”Market Acrophobia – The Fear of Falling” – I want to revisit last months column for a moment and recognize a few of our members for some unselfish and helpful commentary they made about my topic at that time. Record keeping, if you recall.
One of the truly outstanding things about this site is the ability for all readers to participate in the discussions. On most sites it’s a one way street: the writers give their views and opinions and you can’t respond in any public manner with comments of your own. Not so here. This is a most democratic (sorry, Republicans) site that not only allows for discussion by means of direct reply to writers and/or opening a totally new mini-blog discussion on any and all germane subjects, but encourages this interaction. And it’s that interaction that can provide the energy, the new ideas, the concepts that can boost each individuals level of knowledge and competence. That, my friend, is a beautiful thing!
In response to my comments on effective record keeping and the importance thereof last month, I got the following comments from Gumshoers about ways they went about this process and the sites they use to do so. The following is a short list of a few I found helpful after I took a look at them. I may even use a couple in the future for myself. I urge you to go to the sites referenced and at least look at how they might give you an edge in keeping up with your holdings and performance. Some charge a small fee, some don’t. One requires you to have an account at the firm mentioned. So use what you can, if you can.