Thursday, October 25, 2012
Michael Steele Wants You To Invest in Baltimore
Individual investors are most successful when they buy into the idea that they are owning a part of a business for the long-term, not short-term trading or speculating on stocks. A good way to build and maintain that mentality is to buy companies that you can root for through thick and thin, and adding a little civic pride to your portfolio can be a part of that. By owning a few of the local companies that make your community great and drive your local economy, you can keep your short-term emotions in check and become an owner for the long haul. And since Michael Steele is from Maryland, I illustrated this with a portfolio of five companies from Baltimore on my financial blog at the Motley Fool: Under Armour ($UA), T. Rowe Price ($TROW), Legg Mason ($LM), Jos. A. Bank ($JOSB), and McCormick & Company ($MKC). Think global, invest local!