Posted by Tim Stobbs on March 12, 2010
I have a bad habit of looking up our individual stock’s values every few days. I know it doesn’t really matter, but it’s a habit that is a bit hard to break after being in my buying mode for most of last year. What is somewhat really stupid about the habit is I know barring a major shift in the companies I own I won’t be selling any of their stocks for possibly decades. I just enjoy my dividend cheques too much.
So we end up with these odd events like BMO, which we both own, having a good quarter and their stock climbing up almost $10 from where we last bought some. It looks good on the net worth statements, but it doesn’t do anything for us. The price doesn’t matter when we have no plans to sell.
So I’m in a spiral of knowing the price and having it help our net worth statements, but having no intention of selling so I wonder why I look. I suspect that habit know comes from being a little over concerned with stock prices falling the huge drop in 2008. I keep watching for a potential double dip in our recover since I can’t shake the feeling that it all seems to be going too well.
The reality is I don’t need to look except for every two months to prepare my net worth statement. If the world really goes to hell for the market I strongly suspect it will be all over the news headlines. Anything over a couple percent movement on the TSX in a week tends to end up with it’s own headline so I will know to have a look at that point.
Therefore going forward I’m going to try something new and not look at all until the end of the month. Can I do it? I don’t know, but it sure will be a fun game to play in the mean time to help me break my habit.