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Money, Business & Finance Ground >> Opened Stock Acct for my Kids


6/20/07 1:20 PM
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Jinx
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Edited: 20-Jun-07 01:25 PM
Member Since: 01/01/2001
Posts: 51548
 
Opened an acct for my kids a while back and bought some of the recommendations I made a couple of weeks ago. Before you wish bad luck on the Mexican Warren Buffett, just keep in mind this is for my kids, not for me. Son gets half the proceeds when he turns 21. Daughter gets the other half at the same age. Nevermind the penny stock bullshit. I normally don't dabble in penny stocks but the prices are so low that even if they drop to zero, it won't affect the overall value of the portfolio. Most of these stocks I am holding for at least 3 years, unless I see something more lucrative. On the Dendreon purchase, I already own this stock in my own personal portfolio and it has seen rollercoaster days, but I feel that this will see some significant action at interim data analysis in 2008. I anticipate overnight quadruple of price if the data looks good (and I think that it will). SPDV is simply a watchlist stock. I normally take up a small position in a stock if I'm watching it. But I wouldn't advise anybody to buy this dog. By the way, not looking for a high amount of diversification or safety on this portfolio. Looking for the best gainers over 3 to 5 years.
6/20/07 1:30 PM
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Jinx
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Edited: 20-Jun-07
Member Since: 01/01/2001
Posts: 51549
If someone can send this to the finance ground for archiving, it would be appreciated. Thanks.
6/20/07 1:46 PM
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Mark1
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Edited: 20-Jun-07
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Posts: 24724
I think that strategy sucks. Mark
6/20/07 2:37 PM
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Jinx
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Edited: 20-Jun-07
Member Since: 01/01/2001
Posts: 51550
We'll check back in 6 months Marky.
6/20/07 2:40 PM
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ChristianWarrior
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Edited: 20-Jun-07
Member Since: 10/26/2005
Posts: 944
Why not go with index funds - some domestic total market index, some developed international index and some emerging growth index? Why make such risky bets on your children's future?
6/20/07 2:52 PM
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Mark1
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Edited: 20-Jun-07
Member Since: 01/01/2001
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"We'll check back in 6 months Marky. " Why? First you said your timeframe was til your kids are 21 (which is probably 10-12 years, I'm guessing). Then, you said you are looking at a 3-5 year timeframe. Return in 6 months is trivial, especially in the timeframes you suggested. A portfolio of low cost index funds will get you superior returns with low risk over your timeframe. Why are you setting aside money for your kids? College? First home purchase? A car? If it is college, there are better ways to save. Mark
6/20/07 3:28 PM
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sepe
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Edited: 20-Jun-07
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great...now your kids will be just as bitter as you when they have no money for a fucking house
6/20/07 3:30 PM
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hubris
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Edited: 20-Jun-07
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Posts: 58905
real estate is a great way to make money
6/20/07 3:55 PM
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banjo
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Edited: 20-Jun-07
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Posts: 7994
where do you do all your trading online, Jinx?
6/20/07 5:03 PM
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Souljacker
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Edited: 20-Jun-07
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Posts: 38441
what a great man and father, awesome Jinx
6/20/07 5:05 PM
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10040g
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Edited: 20-Jun-07
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real estate would give you a better return wouldn't it?
6/20/07 5:13 PM
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jimrosefan
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Edited: 20-Jun-07
Member Since: 03/08/2007
Posts: 126
props for him for saving money for his kids.
6/20/07 5:17 PM
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BzGrappla
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Edited: 20-Jun-07
Member Since: 02/27/2004
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100 havent u seen jinxs real estate threads lolerz
6/20/07 5:29 PM
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tenchu
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Edited: 20-Jun-07
Member Since: 01/01/2001
Posts: 4026
"Why Your Home Is Not the Investment You Think It Is" "...economic studies have demonstrated over and over that houses (1) cost more than most people make when they sell and (2) rarely match the long-term returns of stocks or other investments. And that's doubly true today, with much of the U.S. well into a real-estate recession. It's unlikely that homeowners in once-booming areas will see a return of skyrocketing prices anytime soon." http://finance.yahoo.com/real-estate/article/102603/why-your-home-is-not-the-investment-you-think-it-is Mr. Crook is editor of The Wall Street Journal Sunday and author of "The Wall Street Journal Complete Real-Estate Investing Guidebook."
6/20/07 6:10 PM
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banjo
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Edited: 20-Jun-07
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ttt
6/20/07 6:26 PM
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FullPint
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Edited: 20-Jun-07
Member Since: 03/21/2002
Posts: 11672
LOL @ the responses
6/20/07 9:58 PM
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Jinx
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Edited: 20-Jun-07
Member Since: 01/01/2001
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Mark, I guess the reason I said check back in 6 months is because I can guarantee that 9 grand will be about 15 grand in 6 months. Once the money doubles, I'm going to put half of it in something a lot safer and let the remaining ride. Appreciate all the responses though.
6/20/07 10:02 PM
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Jinx
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Edited: 20-Jun-07
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Oh yeah I am setting aside money for them for whatever they want to do with it when they hit 21. They can use it for a car. They can use it for a down on a house. They can use it for a trip to Europe. Basically doing what my parents never did for me - put money aside for me. With an average of 10 to 19 year timeframe, I figure this ought to be worth about 25,000 for my son when he cashes in... and about 80 g's for my daughter when she finally cashes it in. She makes out like a bandit because she's only 2.
6/20/07 10:07 PM
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Jinx
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Edited: 20-Jun-07 10:13 PM
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lol. No that would be 1415 shares. YOu're looking at the .000. Those are fractions of a share.
6/20/07 10:15 PM
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Jinx
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Edited: 20-Jun-07
Member Since: 01/01/2001
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superior returns with low risk These are low risk stocks to me because I do my homework. They only seem risky to a person who doesn't know the business. MRH is probably the riskiest venture and the only thing that would drive it down is Katrina 2. Barring a catastrophic storm season this year, it'll be worth 28 bucks by December.
6/20/07 11:46 PM
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StephenL
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Edited: 20-Jun-07
Member Since: 04/01/2002
Posts: 15020
take into account the kiddie tax. http://www.smartmoney.com/taxmatters/index.cfm?story=20060711&src=fb&nav=RSS20
6/21/07 7:40 AM
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10040g
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Edited: 21-Jun-07
Member Since: 01/01/2001
Posts: 9342
well at least you have the right reason for doing what you are doing. it will be great to know and hear in 6 months that your kids will be that much more enabled to go to university or whatnot. good to put the fruits of your labour to work for you.
6/21/07 7:59 AM
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campagnolo
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Edited: 21-Jun-07
Member Since: 06/10/2007
Posts: 45
id use it for drugs and bitches if i was them.
6/21/07 8:00 AM
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Joe Ray
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Edited: 21-Jun-07
Member Since: 08/24/2000
Posts: 46327
use this for their college education, not so they can blow it on hookers and beer in Europe.
6/21/07 1:36 PM
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Jinx
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Edited: 21-Jun-07
Member Since: 01/01/2001
Posts: 51564
I don't think I'm gambling ufcbadass. I'll prove it to you in 6 months when this acct is at 20 grand (yes I was being conservative earlier). Once the acct is at 20 grand, I will pull 10 out and put it into a safe index or etf.

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