You guys are all relatively loaded compared to me. I hope you're all old, else I'll start to have some self esteem issues again. I'd like to buy more, but I don't have any money. I've got my 1000 shares of WMC and my 600 shares of CLF and my 50 hours a week job.
I'm only 46, so I'm hoping to be a younger representative of the board.
I am retired. The wonderful thing about the market is that it is something you can do when you retire. Not only should it be producing some income - which is needed in retirement - but it also gives you an interesting pastime. I encourage everyone to get into it, just stay conservative, 'cause you don't want to be losing money. I just got a step-son into the market; he is about your age .... wish he would have started sooner [wish I would have started sooner for that matter].
Holding CLF now warrants an explanation? THe economy is weak, and the analysts are consistent in estimating a sever earnings decline for next year. Economies world wide, as well as here, are suffering aging dempographoics (i.e., supply has built higher than Demand that continues to decline), so an earnings rebound is years away. Prospects are very poor for years.