XOM employee myself. Bought more this morning. Dividends have been good. If it drops more, I'll buy more.Exxonmobil has taken a beating. I work there- and have a good bit of their stock. It’s a great dividend, and I’ll hang on to it til it hopefully gets back over 70 bucks again.
I use Fidelity and just bought more of their Energy sector ETF - FENY. It contains 25% XOM and 21% CVX and then the rest of it is other oil/gas related public companies. It was down to the lowest it's ever been, I don't see the energy sector going anywhere.XOM employee myself. Bought more this morning. Dividends have been good. If it drops more, I'll buy more.
I just opened a fidelity account but I know absolutely nothing about any of this.I use Fidelity and just bought more of their Energy sector ETF - FENY. It contains 25% XOM and 21% CVX and then the rest of it is other oil/gas related public companies. It was down to the lowest it's ever been, I don't see the energy sector going anywhere.
I just know enough to be dangerous. Basically for the novice like us there are 3 ways to invest - an actual stock, an ETF or a mutual fund. Fidelity has very easy ways to do research on their site if you start poking around
Thanks. I’ve got some studying to do. Its all foreign to me. I’ve got a buddy at work that’s coaching me some though. I don’t have a bunch if money to play with either.I just know enough to be dangerous. Basically for the novice like us there are 3 ways to invest - an actual stock, an ETF or a mutual fund. Fidelity has very easy ways to do research on their site if you start poking around
Just buying a stock like Amazon or Apple or Exxon Mobil is the first. These you will see the price change and you can buy/sell throughout the day - although for the type of investing people like us do, you probably just want to buy and plan on holding.
An ETF is similar to an individual stock, but it's a collection of individual stocks that Fidelity manages what stocks are composed of it. They are priced per share like a stock and trade and update price throughout the day. There all all kinds of them. For example the FENY I stated above is an ETF based on the energy section. You can buy them based on the Dow Jones average or a sector or a percentage of allocation of the type of stock/investment, etc. The benefit for poor folks like us is, we can get in on a piece of Amazon or Apple or Google w/out having to pay $1k per share.
A mutual fund is basically the same thing as an ETF except the trades and pricing only happens once a day at the end of the trading day and on the backend they are managed differently - which doesn't mean anything to us except have to watch out for fees. Good thing about fidelity is they have really low fees or no fees. In a fund, instead of buying 200 shares, you can buy say $500 dollars worth of the fund. This is most common in retirement accounts mainly b/c if you are contributing a set amount per pay check, then you can say I want to put 20% in this fund, 50% in this fund and 30% in this fund. You buy it and never think about it again until you are getting closer to retirement.
If you think you are going to get rich off of stock trading just starting out, unless you have a ton of money, you will go broke. For people like me and probably you, it's best to plan on it being a long term investment. That's why all of these people that are selling all of the funds out of their retirement plan - obviously with some exceptions such as close to retirement - are making a mistake. Think about it, you bought fund x for $15 per share and it was up to $27, now it dropped down to $13 and you panic and sell, then 6 months down the road everything has stabilized and it's back up to $16 a share and you buy back in...well, do the math.
Of course then there are dividends, etc. Just be glad you get them and re-invest that money.
That's all I got and I'm sure a lot of people will step in and correct me on things, which is fine maybe I'll learn something.