When did you start it?
I started my portfolio with these 5 stocks, AMAT, LRCX, UTEK, FDX and C, in the "Silicon Investor (SI) Stock Picking Contest" that started Sept 30, 1998 and ran through Dec. 31, 1998. I was contacted by Jim Jorgensen at that time to write for his newsletter about stocks I liked. He was starting his Newsletter on Jan 1, 1999 with release in Dec. 1998. I suggested taking my five stocks from the contest and managing them like a mutual fund manager after I introduced them in the first issue. This would allow me to track my performance. I now publish the newsletter on my own and have my own following but the portfolio has been continuous since Sept. 30, 1998.
Why did you decide to write it?
There are many reasons. I'll list a few:
- One of my goals for starting this community was to keep track of the various analysts and pundits; to try and hold them to their record so to speak. Here we have ML downgrading Intel for the short term just a month after they recommended buying Intel. The price has not changed so the ONLY people that profited from Merrill's advice are the brokers who made commissions. I am also very critical of radio personalities who give investment advice but don't accurately report their past advice in their performance figures.
While being such a critic, some were upset with me and said "I don't see YOU putting your reputation on the line and doing any better" so I took the opportunity when offered the chance.
- We were trying to find a way on this site to generate income from what editors write so my then CEO encouraged me to try this. I am part of the "R&D Lab" for Suite101 and they are now trying repeat my success in a much larger scale with the "Suite University."
- To justify the time and opportunity cost of working here, I need to make an income on the internet.
- Ego. I have to admit that it is great fun to beat the averages and many famous money managers with my Online Newsletter portfolio that is in its fourth year
Needless to say, I am very proud of my results!
Do You Account for All of Your Trades?
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