.by Anura Guruge
As I had said earlier I had to go shopping for stock now that I had sold the last of my Apple holdings. I don’t go shopping for stock that often. I tend to be a long term investor — to my cost, as my son (now a investing whiz) would point out. I also tend to prefer funds since I know that they have better insights into stock that I would ever have.
But, it is always fun to spend a few hours looking around.
Over the last week, given that I do wake up to CNBC ‘Squawk Box‘ in the morning, I have kept on hearing that UK is on the mend (if not ‘the rise’) and that this is a good time to get back into the U.K. I like that. I started investing, thanks to Margaret Thatcher, way back in the early 1980s when she ‘privatized’ the previously government owned ‘British Telecom’ (BT). You had to apply, by mail, for those shares which were oversubscribed to a crazy degree. Suffice to say that the lucky ones, like I, who got some shares made out like bandits. After that I bought every one of the ‘British’ institutions that were privatized and did quite well on each: British Petroleum (BP), British Airways (BA), and British Airport Authority (BAA). So, I wanted in on Britain. Was looking around for mutual funds and ETFs. Found this ETF with the symbol ‘FKU‘. Cracked me up. Was going to buy it just for the symbol! But then old age kicked in. I realized that it would be irresponsible to buy an ETF just because its symbol amused me. So I ended up buying two different ETFs and a mutual fund — for U.K. exposure.
Fidelity informed me that XOOM was doing a secondary offering. I didn’t even know that XOOM was public in the U.S.
I, and actually the whole family, LOVE the XOOM Bollywood commercials. The Willow Cricket Channel used to be jam packed with XOOM ads — and they were fun. I usually FF over commercials — but with XOOM we would REW and watch them over and over again.
Here is one of our favorites — and they also have a longer version of it.
Well, XOOM is doing well and with those commercials they will continue to flourish. Plus they are in a boom market with the ever growing base of affluent asians. So I didn’t even bother to wait for an ‘IPO‘ allocation from Fidelity.
And now what I think was a bit of serendipity. GoGo Air made a big announcement this morning (Sept. 11). I could understand the potential. I love the name. They are going to offer 60Mbps of Wi-Fi! Wow. That is 4 times more than I can get with TDS. I think I might have to move to a plane!