Quote:
Originally Posted by long101
in 2007 it was at $52 a share, during the 2009 drop it went down to $32 a share. Obviously this is an extreme case, but it still reacts to earnings and fear. I certainly would not drop my entire retirement bank roll on one stock, I would look into some utility mutual funds if anything
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I started my position in ED at $34 per share in my IRA. It's been going upward, though at a snail's pace, and I've missed many opportunities to add to my position. I'm up 31% though it's a small position.
Long101 is right, you never want to throw all your eggs in one basket. You might want to look into a diversified utilities fund that pays a high dividend yield. I would also look into investing in a telecom like AT&T or Verizon, maybe an apartment managing REIT, a food stock, a stable blue chip tech stock like Intel, IBM, or Microsoft, and etc. I figure food, water & power, and shelter are the basics that we will always need (cable/telephone/wireless and technology seem to be the new necessity).
Again, don't put all your eggs in one basket. These also means to not invest all your money at once. You want to be able to buy the dips and sell the rips (highs). I would also recommend using a discount broker who allows a DRIP
(dividend reinvestment plan). This will automatically reinvest the dividends into the stock while sparing you a commission fee.
Finally, I'd recommend you do some good research and paper trade before you put your money at risk, no matter how low the risk...this is your retirement.
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