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- Jul 24, 2007
Originally Posted by capricdragon
I'm not a fan of Rich Dad Poor Dad. Just my own personal conclusion.
I prefer to buy ETFs such as GLD to get into the gold frenzy .... and also bought GG (Goldcorp) a while back. I don't own any physical gold bullion.
I'm on a long term holding pattern for Johnson & Johnson (JNJ), Apple (AAPL), Google (GOOG) and Chevron (CVX).
I ONLY buy gas from Chevron. I'm on Google 24/7. I have 3 kids under the age of 4 so I am a FREQUENT shopper of JNJ products ~ baby products.
I try to follow Warren Buffet's ideal that you should really own shares of companies that you 'know' (and use)
There will ALWAYS be customers of baby products!!
If you drink Pepsi and eat at Taco Bell ~ Buy PEP shares. I think Pepsi owns KFC as well, but I might be mistaken.
If you use Head and Shoulders shampoo, buy shares of Proctor & Gamble (PG)
I agree with the Buffett ideal but it's a bit more in depth in terms of philosophy. As a consumer you can see one company's edge in a given sector. Some companies prove great for the consumer but aren't sustainable businesses in the end. For example, I love Wendy's but I don't think they have an edge in their sector versus MCD or YUM. I really like Sony products and believe that they're great value for the money (in terms of quality/$) versus their competitors but buying into their equity would be suicide. They're poorly run, overextended, and are suffering from the lack of appreciation for quality among today's consumers.
On the other hand, I love Walgreens and it was very clear from a consumer point of view that they had a clear edge against the likes of Duane Reade, Rite Aid, or CVS (although CVS generates most of their revenue on the pharma side). I can always find something to buy at Walgreen's because of their sales/ clearance but I rarely step foot in the other 2 to buy anything because their prices are horrible. As a result I bought some in WAG a few years ago; it's a longer term play unless circumstances change.