Alright ladies and gentlemen, welcome to the next update for the Grow Your Dough Investing Challenge. As you know, February was a rough month for my investing portfolio. I made some stupid investing mistakes, and it cost me big time. My $1,000 starting portfolio had dropped down to $994.84.
However, things only got scarier from there, and they really had me questioning my investing strategy. Let me just show you a picture of what my portfolio did this last month that had me scared:
Look at that crazy volatility last month! Insane to see a swing like that, but it has been worth holding onto my current investment, because it has put my portfolio back on track! Woo hoo!
Current Portfolio Value
So, my current portfolio value as of April 1, 2014 is $1,010.84. Here’s the screenshot to prove it:
Right now, I’m still holding onto my 10 shares of Lindsay Corporation (NYSE: LNN). This company just announced earnings that were a little below Wall Street expectations, and that’s what sent the stock on a roller coaster. However, the forward guidance was good, and shareholders seemed to take advantage of the value opportunity to buy low.
Also, last month I got paid my first dividend for owning this stock: a nice little check for $2.60, which is reflected in the cash balance on the account.
Game Plan for April
I expect April to be a much more volatile month for the stock market in general. I’m going to hold my position unless something else really tickles my fancy. And I’m not going to be trading anymore after last month’s big loss.
Hopefully, this will help me get back into the lead of the Grow Your Dough Showdown. Look at the leaderboard for last month here.
That’s how I did last month. How did your portfolio do?
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here and here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.