Monday, May 21, 2012

Day One of Market Watch

As a very cautious person, even when dealing with imaginary money, I felt risky making my four transactions totaling just over $7000. Then, I realized nearly everyone else has spent more than half their cash. So far, I've bought 5 shares from Apple, 10 from Amazon, 5 from CME Group, and went really crazy buying 15 shares of Mosaic. I really don't know much about stocks having little interest in something so speculative. After a lengthy consideration, I decided to bust out almost $3000 on Apple mainly because of their apparent domination in the market for MP3 players and the music download industry as well as the number of times the company's profitability has been mentioned in class. Given the general increase in book sales expected in summer months, I chose to purchase Amazon shares. Next, I bought shares from CME Group, a company that owns and operates large derivatives and futures exchanges in New York and Chicago. I figured that since CME deals largely in the grain market, it would be a fairly wise investment decision at this time of year. I surprised my self towards the period's end by indulging in one of my few allotted speculative, "fun" stocks. I chose to invest in Mosaic, the professed "leading producer of concentrated phosphate and potash crop nutrients!"There wasn't too much reason behind this purchase. I guess the idea of concentrated phosphate lulled me into a questionable sense of security. 

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