Mentor Overview

Yesterday, I met with my mentor, Patrick Cross for approximately one hour. Before I began asking for financial advice, we discussed the progress that I had made on my own since beginning this project. He said that I had fared well on my own, but did make some moves that could be considered unwise in his profession and he would more than likely not recommend. Among these were the purchase of gold-based companies (AEM) and investing in stocks that don't offer dividends, such as Netflix, on which we both agreed, that purchase was extremely lucky. From there, we discussed a new direction for my portfolio, investing in safer, dividend paying companies such as Chevron, McDonalds or Coca-Cola and selling aggressive stocks such as Netflix.

Totals for May 2nd:

• Agnico-Eagle Mines (AEM)- Open $31.89 Close $31.98
• Total for 50 shares: $1599 ($22 gain since May 1st)
• Sell 50 shares, receive $1,399 after fees.

• BioDelivery Sciences International (BDSI)- Open $5.47 Close $5.48
• Total for 230 shares: $1,260.40 ($2.30 gain)

• MetroPCS (PCS); becomes T-Mobile (TMUS)- PCS $11.84 TMUS 17.72
• Total for 51 shares: $903.72 ($299.88 gain)
• Sell 25 shares, receive $443
• Total for 26 shares: $460.72

• Netflix (NFLX)- Open $212.91 Close $214.49
• Total for 5 shares: $1,072.45 ($7.90 gain)
• Sell 5 shares, receive $1,072.45

• Rambus Inc. (RMBS)- Open $6.83 Close $6.93
• Total for 150 shares: $1,039.50 ($15 gain)

• Treasury Bond: $2,000

After getting advice from my mentor on these stocks, I decided to sell Netflix and AEM which he considered aggressive stocks with high risk and no periodic dividend. The great increase in price after the T-Mobile acquisition made me sell about half of my, then, MetroPCS stock for a profit. I currently have $5,153.23 to play with; I will make new purchases after the weekend bell. After some calculation, I have reached a net loss of $86.15 since starting this project with $10,000.