well it looks like theres almost 300 pages here; most of which I probably wouldnt understand. Basically, I have a Roth IRA with wells fargo and Im sick of the fees. 2008 took my roth for a ride and it has taken this long just to get back to where it was. My question is this...I want to take my own Roth IRA and make decisions to make it grow without all these stupid fees. Is there anyone out there that is working on their own IRA and where do you go to find out what mutual funds are performing? I see a site like www.thestreet.com listing its top mutual funds for 2013 but i dont know what kind of record they have. I dont expect to get rich over night...I just want a modest return. I dont think 8% is too much to ask for is it?
Well if 8% is your goal you could simply put your money into something like the S&P 500 index. They carry an average annual return of around 10%.
What kind of fees are you talking about? Does WF charge you some type of fee? There are plenty of brokerage firms like Ameritrade or Fidelity that don't have any fees for having an IRA, if that's the issue. From there, you can buy whatever you want - stocks, ETFs, mutual funds, etc. Those will have one-time transaction costs each time you buy/sell, and then mutual funds and ETFs have management fees, but you can't really avoid those - that's how those companies make their money.
Honestly, I'd rather invest and manage the money myself than let someone else do it for me .... even if I risk lower returns, then again I'd probably go broke next time the market collapses.
I sold 30% of my INO Its not doing too much anytime soon it looks like, gonna look into KNDI, SRPT, dry shippers, HALO. ZLCS but only after they go through a likely reverse split in october. Then the p2 data for the n-type calcium channel blockers is due out.
ganja.....you and i seem to have the same investing style. Im back in on HIMX and writing monthly covered calls. I bought at $10.08 and wrote an $11 oct 2013 call for .45 so that's awesome income either way the stock goes up or down. I just bought PXLW today at $3.92 I think it'll be $10+ in a year I took a small position in UNXL, 1000 shares holding in the event it hits the projected $3.14 EPS will be 6-8x higher
I know you don't care about what I say, but selling covered calls is a strategy that actually underperforms the market in most cases.
I'm curious what price they are offering the shares at and I do think this is interesting.... As an aside I'm always interested in stocks with long established businesses when they are still trading near $10 and people are leaving them for dead. The last one was BBY. I also remember a couple years back some analyst put a price target of 0 on HRB when it was around $10. I have no idea what will become of JCP, but I do think it is interesting that they seem to be garnering a lot of support from Goldman with the 2.25 billion loan and have the ability to sell nearly 100 million shares to the public meaning investors aren't completely scared off. Might be worth a speculative buy and hold for a couple years. They have a titanic effort in front of them, but they aren't completely worthless at this point in time and this offering would seem to put some sort of floor under the stock. Also, options volatility has exploded and out of the money puts have some ridiculous premiums to them. That said it might also just be dead money for years or they just might not be able to turn it around.
What kind of fees is Wells charging you? Were you consistently contributing to the Roth and buying more stocks when the market was down? Also do you have dividend reinvestment turned on in your account?
Robbie how is it underperforming the market if I sell the himx $11 call 24 days out and make $.45 on a stock I just paid $10 and change for? I have a .90 upside ie nearly 9% in 3 weeks + an additional .45 guaranteed. So if it hits $11 awesome I make 15% in 3 weeks of it doesn't I'm in at $9.70 basically. I am very aggressive I sell puts to buy shares at a discount and sell calls to dump them. Ganja unxl lost .26 this year and is $19 now if they earn projected eps of $3 next year my god who knows where the upside is but it's a total gamble too risky for me to put in more than $20k
First, they charge 40.00 a year to manage it. Every mutual fund they buy for you comes with a 3% charge and when you sell it...2.5%. Same goes for individual stocks. I do have dividend reinvestment turned on. I was doing okay...averaging 14% until 2008 happened. I contribute most years but I have to admit that 2008 discouraged me to the point that I didnt contribute for a couple years after that. I meet with them once a month, I tell them what i want and they do it. I am diversified with 25% in american mutual funds, about 25% in international, 25% in stocks at&t (T), and 25% in something else that I cant remember at the moment because its 3:30am lol. I can switch the mutual funds around if they are underperforming once a month for no fee so that is why I meet them once a month.
If you're telling them specifically what you want (ie, I want X mutual fund), you definitely should switch to a brokerage that you manage yourself. Also, you should compare how your funds were performing vs index funds - most funds don't beat the indexes over the long haul, so it may just be easier to buy an S&P500 ETF, a few international ETFs (you can get international as a whole, region specific, or country specific), and then whatever stocks or gold or bonds or whatever you want. If you use ETFs instead of mutual funds, you'll just pay the $8 or whatever per trade (and you often get a bunch of free trades to start). On the flipside, if you're getting actual advice from them, then it's up to you to determine the value of the advice and if you think it's worth it.
ZLCS and HALO are hot ZLCS has to hold over $1 for the next 9 trading closes to avoid reverse split. then Z160 data is due in late october/early december going to look into it after I cash in on the HALO rally middle of next week after their PEGPH20 data on Monday
The reason why selling covered calls is generally an underperforming strategy is because it limits your upside in bull markets/uptrends. You don't want your stock called away. Additionally, I can't think of one fund with a covered call strategy that outperforms the mkt. They generally do very bad. There are situations where you would want to use them, but they are limited. I also think you should develop a coherent strategy with HIMX rather than trading just to trade. I may be incorrect with this assumption, but I believe you have cost yourself money by trying to anticipate a correction and not having a clear exit plan. Develop clear plans and figure out why they succeeded or failed. It helped me immensely with my trading when I was first starting nearly a decade ago.
I don't know how you can feel so confident buying into spikes like this. If I am buying this stock then I would want more than 5% or about 55 cents on this trade. It's extremely volatile and there is no clear base.
