As you know by now, I make a stock purchase every single month no matter what is going on in the world and despite the doom and gloom headlines. Perhaps I am naive or more of an optimist that we will get through these dark financial times somehow. Of course, it’s getting harder to simply invest with blinders on as more articles are being written about the demise of the U.S. dollar, and clearly gold, silver and bitcoin highlight this potential fact as the dollar continues to weaken over the long haul, though is surprisingly strong currently. Honestly, who the heck knows anymore? Wall street is partying like it’s 1999 while Main street suffers with high unemployment and ever increasing consumer prices. Banks are artificially propped up… massive amounts of cash printed out of thin air, Federal Reserve bank the scourge of modern finance some have you believe, fiat money backed by nothing. What gives??? While I am a firm believer in investing in stocks for the long haul and love dividend-focused investing (despite cuts), I also believe in having assets well diversified. Stocks are great, but these days I believe hard assets like gold, silver, bitcoin and real estate are just as important. Without ranting too much further, I’d like to share my October 2020 stock purchases.
I have added to my taxable account 45.9168 shares at $27.00 for a total investment of $1,239.75 in AT&T Inc. (NYSE:T). With this recent purchase, my taxable account holdings in T now total 243.2267 shares with a market value of $6,773.86.
I have added to my taxable account 17.7940 shares at $39.33 for a total investment of $699.83 in Altria Group, Inc. (NYSE:MO). With this recent purchase, my taxable account holdings in MO now total 319.2943 shares with a market value of $12,471.73. I also hold 71.037 shares in my ROTH account.
I have added to my taxable account 11.6204 shares at $60.23 for a total investment of $699.89 in Gilead Sciences, Inc. (NASDAQ:GILD). With this recent purchase, my taxable account holdings in GILD now total 49.9805 shares with a market value of $3,046.81.
I have added to my IRA account two shares at $140.36 for a total investment of $280.72 in General Dynamics Corporation (NYSE:GD). With this recent purchase, my IRA account holdings in GD now total 6.061 shares with a market value of $853.51. I also hold 10.0323 shares in my taxable account.
Sticking to my October stock considerations, the grand total for the month of October is $2,920.19 of fresh capital put to work. Again, I have no idea about the immediate future, but long term, and with a diversified portfolio, I feel I can weather our current economic storm. Of course, these days it seems that no portfolio is immune from those dreaded dividend cuts, but by staying the course and continuing to invest and diversifying greatly mitigate any of the nastiness.
What new stocks or other assets have you been buying in October? Please let me know below.
Disclosure: Long T, MO, GILD, GD
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.