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How do I add a new stock to an existing portfolio?

I need to add a Financial to my Stock Portfolio for 2012, can I get some advice?

  • I'm a little skeptical due to the recent financial slide we're seeing from the banks and what's going on in Europe but my portfolio has no banks and I'm looking to diversify it as much as possible. I don't want to risk it with Bank of America but I might throw a grand or two into JPMorgan for the upcoming year. Does anyone have any advice for me? Thanks!

  • Answer:

    I will say this. Several of the big hedge fund managers have been stocking up on financials in a big way. I don't know whether they are nuts or not. JPM is about the strongest if you can believe the talking heads. The main ones they have been stocking up on however are C and BAC. Personally, I wouldn't touch them myself but then again it is not their money. It is their customers' money.

Christop... at Yahoo! Answers Visit the source

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I own JPM, BK, & GS in my LT port. After today, I'm not sure I consider any of them a steal at current prices. Although I have purchased BK...below $20 I consider it reasonably priced. Below $19, a deal. Nibbled at JPM below $30. That might have been too high. Looking for GS below $80. Also depends on what you consider "financial." In my speculative port, I have been gorging on financial-ish stocks and closed end funds. Very risky, but at the moment my total is more than 500 times your minimum consideration... NLY, CMO, PFL, PTY, ETV, etc. Price matters a lot, here. PTY, for example, is extremely expensive at the moment (by NAV). But if you are playing a game and are willing to loose the $1000 (and have 6-12 months to play), take a look at NLY. (Disclosure: I own everything mentioned above. No one should ever risk real money on my say so alone, ever.)

MVD34

you can invest in Canadian banks on the NYSE Bank of Montreal [NYSE:BMO], Toronto Dominion Bank {NYSE:TD], Canadian Imperial Bank of Commerce [NYSE:CM] ; Royal Bank of Canada [NYSE:RY] and Scotiabank {NYSE:BNS] they have lost some ground but only 10-15% this year compared to 25%+ for USA financial institutions. All have decent balance sheets and offer a pretty good dividend in the 5%/year range paid quarterly. Take your pick....

underexposed...

Why do you NEED to add a financial? If the sector stinks why are you compelled to invest in it? Having said that, if I were to buy one financial, and I'm not, I would buy Bank of Montreal (BMO) - good dividend and more solid than US banks, although they bought some US dog banks after their collapse.

I Like Turtles

I don't like financials right now. The technicals show very little buying and a whole bunch of selling in the sector overall. Keep your on on XLF (Financial Sector Spyder fund. The financial industry tracking fund) to see when the industry turns. If I had to pick a financial to buy, I would go with GS or BK. But not yet. Best of luck!

Shelby B

go with a regional bank with little to no sub-prime exposure and a regular dividend that's not too high.

willin

ing direct, ING They are the future of banking.

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