Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I have been accumulating funds to buy into AXP for the past couple weeks. I made my decision to do so independent of any Greenspan utterances. The company is a financial powerhouse, easily meeting the Fools' criteria for a Rule Maker, and my own criteria for a 5+ year investment. Despite today's utterances, I still feel that way.

Am I wrong to shrug off Greenspan, and simply look at today's performance as if there's a blue-light special on blue chips? Every extra share I buy, becomes 3 more after May 11... and following that, if I hold for 5 years or so, there's plenty of time for AXP to come back up to it's historical "curve". The downturn is very recent - only the last couple months. But I think you all know this. :)

AXP is the first non-tech stock I will invest in, by the way. I still think it's an excellent choice for this "role" in my port, which is rather newly established, and in need of some diversification now that I have some tech-sector profits to utilize.

What do you think? Maybe I should send Alan G. a thank-you note. :)
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.