As the final week of 2017 is at hand, I realize that I still have not made my monthly buy(s). As everything cryptocurrency took over the headlines in recent weeks, you can imagine that my focus has strayed a bit. Of course, my long-term investing priority continues to be my dividend growth portfolio, and I still plan to make at least one monthly buy as I have been doing for years no matter what's going on in the world or financial markets. But, you have to admit, this whole crypto thing is pretty fascinating, whether you have skin in the game or are watching from the sidelines. With that being said:
I have added to my taxable account 45.5711 shares at $17.56 for a total investment of $800.23 in General Electric Company (NYSE:GE). With this recent purchase, my taxable account holdings in GE now totals 303.6820 shares with a market value of $5,302.29.
I am well aware that this stock has not been a popular choice as of late, and going into 2018 many questions remain about GE's turnaround story. Of course, time will tell whether this purchase and my general holdings of GE will pay off in the long run. I'm willing to go against the grain on this buy at this time and average down my cost basis here. I have done it before with other stocks that faced certain doom, like Caterpillar (NYSE:CAT), V.F. Corporation (NYSE:VFC), McDonald's (NYSE:MCD), Johnson & Johnson (NYSE:JNJ), Hormel Foods (NYSE:HRL), General Mills (NYSE:GIS), Dover Corp. (NYSE:DOV), W.W. Grainger (NYSE:GWW) and many, many more. Going back five years or less, each of the stocks mentioned faced their own calamity and have managed to turn things around. I realize that every stock/company is different, and that what happened in the past is no guarantee of future results, but if I had to guess whether GE could mount a successful turnaround over time, I would. After all, my portfolio is spread among dozens of stocks, and a GE falter would not endanger my collective passive income stream. This is why we diversify.
What do you think about my recent buy? Have you been buying in December as well? Please let me know below.
Disclosure: Long GE, CAT, VFC, MCD, JNJ, HRL, GIS, DOV, GWW.