As goes January, so goes the year! Or so the January Effect saying goes. If the first few days of 2012 is a sign of things to come, we’re in for a good year. At least that’s the hope.
Better 2012
The folks over at Betterment have put on a Blogging For A Better New Year event. It’s an article a day about the importance of setting goals for your life and investments, written by some of the best finance bloggers out there. How I was included is beyond me. Most likely just a filler, but proud of the opportunity nonetheless. Mostly because I finished writing it three weeks in advance. The collection has been great reading so far. Check it out.
Money Pro Challenge
A stock picking challenge is being had over at Money Pros and I tossed my picks into the fray. The rules are fairly simple: pick 3 stocks that you think will do well in 2012, submit them, and wait.
I thought I’d put my money where my mouth is and submit 3 stocks I own (but reserve the right to sell at any time). Here’s my picks:
- New York Community Bancorp. (NYB) – The lone bank stock and dividend play of the bunch.
- MGM Resorts (MGM) – MGM is a play on an economic recovery in the US, specifically Vegas.
- Whiting Petroleum (WLL) – Energy is always a good play and oil is king.
Being a competition I’d like to point out I’m up almost 8% for the first week. Too bad we can’t take profits along the way.
Disclosure: I own shares of NYB, MGM, and WLL.
Part of having a finance blog offers me the opportunity to add my two cents every now and then. With that in mind I’ve come up with the Novel Investor Best and Worst Awards for 2011, relating to stocks and ETFs that may or may not have been part of your portfolio this past year.
Starting January 1, 2012 new cost basis reporting changes will take effect regarding mutual funds, ETFs, and DRIPs (Dividend ReInvestment Plans). Under the new changes, the IRS will require all brokerages and fund companies to track the purchase and sale price of these assets. These are similar to the