I just purchased 170 shares of goodrich petroleum for $2 (total, not per share) . Goodrich is an over the counter company which means it is not available for purchase via the big brokers, I had to buy their shares through my brother who used Merrill Edge.
Goodrich recently filed for chapter 11 bankruptcy, reducing their debt from $40 million to $4. They have enough money set aside for restructuring and wages. They operate over 150 oil and shale sites in the United States. With the slowly increasing price of energy due to OPEC reducing output, I see an upside to this company. One of the biggest upsides is that it can pretty much not go any lower, and it may become a buyout potential if bigger companies want to acquire its property. Also for $2, or less than the price of a cup of coffee, I can handle the risk.
As for buying individual stocks instead of using an index fund, the only ones I was ever interested in were the dividend reinvestment funds. I had Duke Energy, McDonalds and those are the only names I can recall, it wasn't many. I don't have the patience for any of it now. If I were younger I would shovel every dime I could into retirement accounts. But even if you end up with tax write offs from your losses that's not a bad thing.
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