Purchasing Stocks for 2009

It is the season where we purchase stocks each year. At a high level the process is:

– kids earn their $500 during the course of the summer (some have jobs, or find other ways to save)
– after I receive the $500, I add $500 and match $500 for a total of $1500
– this $1500 gets deposited into the money market account linked to their brokerage account
– I send them (or post on this site) the six stocks to pick from for the current year
– each of them select 2 stocks
– based on the market price, I place the orders overnight, leaving enough extra in the account in case of market fluctuations at the open, plus room for some commissions
– then the orders get executed
– later, I update the performance of the overall portfolio

So far:
– Fund 4 (new) – selected SNP (8 shares), SI (7 shares)
– Fund 5 (new) – selected WMT (13 shares), NUE (14 shares)
– Fund 1 – selected TEVA, SNP – also looking to increase the position in either AEP or MSFT (waiting on directive)

Still waiting on picks for Funds 2 & 3, some times it takes a while to get in touch and talk through it with homework and other after school activities.

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