January 26, 2010
Picture a typical day. You get done with work, punch the time clock, and start the journey home, but before you get there you have to stop off at the grocery store. You pick up some Crest toothpaste, Duracell batteries, and Tide laundry detergent. You arrive home and check the kitchen for something for dinner. Maybe you end up with some Heinz Bagel Bites and a bowl of Campbell's Chunky Soup. Then you throw them both in your General Electric Microwave and open up the Verizon phone bill to see if the kids went over their allotted text messages. After dinner, you fire up your Dell Laptop because you have a long night of research ahead of you looking for the next exotic, exciting company to invest in.
Often times companies that prove to be good investment choices for you don't come from a research report of 'hot stock picks for the new year' - they come right from your grocery store, your refrigerator, your pocket or your kitchen counter. Sure, there is nothing too exciting about Procter and Gamble. They make Crest toothpaste, Duracell batteries, Tide Laundry detergent and many other things. Oh, and if you invested $1,000 dollars in Procter and Gamble in 1970 it would be worth somewhere in the neighborhood of $30,000 today!
So before you try and find something you don't know about to put your money into, take a look at what you do know.
Steve Hicks
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).