The Grow Your Dough Showdown – Update (February 2014)

It’s been an interesting two months since I first started this investment contest. To recap, I decided to invest in one stock — Newmont Mining Corp (NEM).

The objective for picking this one stock was to compete and win against the other personal finance bloggers. So based upon my research picked a sector and stock that was beaten down signficantly.

As you can imagine picking the commodity sector it’s been a very volatile stock. In addition, Newmont quarterly results were released and disappointed investors. The stock has been all over the map. Though currently only down 2.92% since Janurary 1st. My performance since investing and expenses is down 4.33%. Compared to the S&P 500 which is currently up 0.6% for the same time period.

NEM Chart

So no surpise I could have done slightly better just investing in a passive S&P 500 ETF.

Since I haven’t hit my stop loss order of -25%, I’m still in the game with this stock. Should the stock go below a 25% loss, I will pick a new stock. Though if that does happen, my chances of winning this competition is almost nil.

Grow Your Dough Showdown - February 2014

Finally, Jeff Rose suggested I had to name my portfolio. So I’ve decided to call it the “Grow your.. DOH!” after Homer Simpson.

Comments

  1. Sandy says:

    Hey, wouldn’t you tell someone they they shouldn’t put all of their eggs in one basket? I’m surprised that you did.

    • Larry Ludwig says:

      The reason it’s a small part of my portfolio. I mentioned this with my first post.

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