IYF Completes the Portfolio

We purchased IYF (iShares Dow Jones US Financial Sector Index Fund) at the end of last week to complete our ETF Portfolio.  We purchased 8 shares at $57.96/share.  Currently the share has jumped 1.93% this week and is helping to offset the loss we are currently taking on the Chilean ETF.

Overall since we have started purchasing stocks, our portfolio is up just a tick mostly driven by today's strong opening.  Look back soon for more updates.

Latest Purchases

ManCave

We met again last night in the propane filled mancave with an agenda to complete our portfolio of ETF's.  The President was running a little late, literally he was huffing and puffing down a soccer field, so the VP, Pete Anderson took reigns last night.  After the usual "shooting the breeze" we discussed how our only purchase at the time was doing, the DIA, made a solid $11.39 yesterday, or to break it down, $1.03 per person.  Not bad in my opinion.

Once we got after it  we talked about a number of different ETF's that each memeber of the group researched.  Here are the 5 stocks we purchased:

PowerShares ETF Trust (PYZ): This ETF follows the Dynamic Basic Materials Sector Intellidex index.
PowerShares QQQ Trust Series1 (QQQQ):  Follows the largest tech companies in the US marketplace.
iShares S&P Small Cap  600 Index Fund (IJR):  Follows S&P Small Cap 600 Index. 
iShares MSCI Chile Investable Market Index Fund (ECH): Broad based market performance in Chile.
Vanguard Emerging Markets ETF (VWO): 748 common stocks of companies located in emerging markets.

We currently still have 12% of our money to invest and are waiting for a check to clear before we can purchase that last ETF.  Hopefully we will have an update tomorrow.

LSCM

The Money Is In

Finally after waiting nearly 55 hours from the time Klein Bank and Ameritrade were setup to be linked together LSCM's first purchase was made this evening at roughly 9:10PM.

First Purchase: 17 shares of DIA (Dow Jones ETF) at $116.64 per share.

Will update post meeting tomorrow on what the next purchases will be.

LSCM

Klein Bank linked up with Ameritrade....Finally

In order for us to get money into our Ameritrade account we had to establish a business checking account with Klein Bank.  We chose Klein Bank because of their fee free business account that didn't have a minimum balance mandate.

At our last meeting, 12/29/10, we collected the initial deposit of $450 per person and deposited that into the Klein Bank account on 12/31.  Peter Rolando is the Broker Liason and established the link between Ameritrade and Klein on Sunday as the Vikings were stuck in the Lions Den.  Finally this morning, 1/4/11, the link was verified and we were able to put in a deposit request of $4500.  Hopefully by days end, the money will be available for the purchase of securities.

Our plan once the money is in place is to purchase ETF's, or Electronically Traded Funds since we like how diversified they are.  Once we feel more comfortable putting together our own diversified portfolio we will purchase stocks.

What we are currently looking at purchasing:
40% into the Dow Jones ETF (DIA)
60% split up between another Domestic Broad Based ETF, Domestic Sector Based ETF, and an International ETF.

We'll update you as we have news.

LSCM