Sunday, August 14, 2011

Broker Management

When looking at where your portfolio can fail and where we can shore up its weak points we shouldn't forget non financial concerns...

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

I made this video Friday morning with my internet going down twice for hours at a time. It ended up being the cable modem supplied by my service provider broke. I won't blame this one on them, I have had it for about 4 years now and it has worked well. But that does not change the results or the future risks... my connection was down and I could not trade. I was down most of yesterday too (thusly the delay in posting this blog entry vs posting my video). My service provider said they might be able to get someone out in a couple days to take a look at it.

I went out and bought one for $70 which includes $10 from Best Buy's extended warranty. I know I know. Those things are usually a scam and the manufacturer has a warranty. Being an I.T. guy there is also some wounded pride involved but I do have a reason. If my modem goes out for whatever reason it directly impacts my trading, what if I am in the middle of one? I do not want to call the manufacturer and wait for them to send me a new one. I want to walk into Best Buy, grab one without question and be on my way to get back up and running.

Why bring up buying a new cable modem to you guys at all? Well there is a lesson here that I missed. When I first signed up they charged $5/month to lease a cable modem. This was years ago when cable modems cost quite a bit. Last year they raised the price to $7/month. $2 is no big deal and I didn't pay attention probably as much as I should have. The end result? I have paid easily over $350 in fees for a $60 piece of equipment.
$300 is the same size as my stock purchases for the model portfolio.
Money can be tight at times for anyone especially in these times. Finding the cash flow in our budgets may not be as hard as we think if we take a close look at our budgets.

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others.
I am not a financial planner, financial advisor, accountant, or tax advisor. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.

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