Added More Exxon Mobil (XOM) To My Portfolio
I’ve owned Exxon Mobil (XOM) for the past 7 years, and including dividends, I’ve had an annual return of slightly over 5% APY. While it’s not knocking it out of the park, it’s not bad for a Dow component, and especially not bad in this economic environment. Exxon, as with other oil companies have been beaten up in the past 2 years, especially in the past 3 months with the BP disaster in the Gulf. For the past three months, Exxon’s stock has declined over 16%, and I think it has been oversold. I’ve been looking for a place to put some new money, and have been looking at FDIC secured investments, but I am frustrated with their poor returns.
Should I Buy Gold?
I had a friend of mine the other day ask me, “Is buying gold a good idea?” He then quickly proceeded to ask, “Should I add gold to my portfolio?” You might be wondering the same thing. I believe gold and other commodities should be part of any well diversified portfolio. If you have been reading any investment news lately, gold recently has hit an all time high, though recently slightly pulled back. I believe it’s wise to own gold, and should be part of your long term investing. I own gold coins, but also have gold based mutual funds and ETFs in our retirement accounts. I’m not a “gold bug”. Unlike Glenn Beck, I’m not believer that the world is going to hell in a hand basket, and you need the three Gs (guns, gold and god). It’s more related to macro economic trends – these trends started early 2000′s, continue today, and appear it will to continue for the distant future. With global monetary polices, it’s not a matter if we’ll have debasing of our currencies, it’s a matter of when and how much.
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