Fishing gear on the stock market?
As odd as it sounds, does anyone know if fishing gear names (i.e. shakespear) have anything on the stockmarket? Im looking to invest but i wanna invest in a stock that i am familiar with and know a thing or two about.
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Hey Marine Vet,
One of my favorite books on value investing is “One Up On Wall Street” by Peter Lynch, a former large mutual fund manager.
One of the things that he advocates is exactly what you’re doing — going with what you know. If you understand the business, then you have a leg up on others who are either speculating or investing in something they don’t understand.
Basically, if you don’t understand the business model and can’t figure out how or why they make money, then you don’t know if anything the company is doing or saying makes any sense. So, your money is really at risk.
That’s why Peter Lynch (and Warren Buffett, for that matter…) suggest that you stick with businesses that you understand and know something about. You don’t really have to know all the ins and outs, but you should at least know how and why the business makes money and that it makes sense to you.
So, great job! The only caution I might throw your way is that fishing gear manufacturers might be too narrow of an area for you to find good opportunities. You may want to broaden your investment choices a bit as you move forward…
Hope this helps, and good luck!
Not real familiar with individual ” gear” names, but I do know Cabela’s trades publicly…and how about Dick’s Sporting Goods ? …( CAB and DKS )
Sorry to say, neither one has done too well lately…everybody has to spend too much on gas…not much left for leisure/ recreation money. If things turn for the better as far as gas…these two have no place to go but UP . ( Sure would be nice.)