[Hello? I have an idea. pic of Françoise Hardy]
In my grand quest to master the stock market against all the well-documented odds, this week I hedged a few of my bets. Here’s a little update for those of you investing along with me:
I had a handful of stocks that were up 30-50% that I think are going to dip down this quarter. So I sold 1/2 – 1/3 of my shares in those stocks: William Sonoma ($WSM) Apple ($AAPL) and Whole Foods Market ($WFM). Apple and $WFM I still believe in as long-term holds, but I want to re-buy more stocks at a slightly lower price. William Sonoma is a retail brand – it’s cool and diversified, but retail is a zero-sum game and it’s easy for another brand to take your market share. So I’m ready to sell the rest of my shares if something shinier catches my eye.
I also bought more of one of my down stocks, Google ($GOOGL), because they are at the forefront of innovation, and I trust that being creative and bold will always win over a company that is stodgy and slow.
I also added a new food stock in the fast casual dining industry, called Habit ($HABT), since Chipotle ($CMG) has been killing it. The fast casual food industry is kind of like craft beer in that it’s a fast growing market but there is not that much to invest in. So I also plan to buy shares of Danny Meyers’ Shake Shack ($SHAK) even though it is trading for much higher ($48) than was anticipated ($12-$20).
Quarterly earnings were released yesterday, and the good and surprising news is that Amazon, which is a stock I was starting to really regret buying, actually made legit money last quarter – everyone was SHOCKED. As they revealed that news the stock flew up. #besosforbezos
What about you, any stock ideas to share?