Saturday, February 06, 2021

Robinhood & GameStop & the stock market

 I'm not much of an expert on the stock market.

I only have 2 stocks.

The first one was one share of Disney, which my oldest brother gave me as a Christmas gift back in 1998.  I still receive chump change checks from them every year.

Then in 2019, I got a flyer in the mail from Robinhood promising one free share of stock if I applied. I investigated Robinhood online and learned it has a legit reputation. I applied and was given one share of Sirius XM, a satellite radio company. I have never listened to a Sirius XM broadcast so I decided to sell it and buy a share from a company whose product I used. Being that I'm a BlackBerry user, I bought a share of BlackBerry.

When I got my first BlackBerry smartphone (the Q10) in 2013, people said the company was going bankrupt. 8 years later, the company is still living.

In fact, around the time people were manipulating the market by buying shares of GameStop, the price of BlackBerry stock was also increasing! 

Some people preach investing in the stock market as a way to increase wealth. Some friends claimed they make their money in the stock market.

As for me, I prefer spending my money on immediate needs as well as paying off current debt.  Some of the leftover money is used in promoting & making my music. (look up Pablo the Mad Tiger Warrior on wherever music is sold or streamed).


 I'm not ruling out buying more stock in the future.

But I prefer not all my money be invested in the stock market. It is too unpredictable to rely on.