Celebrate my first stock purchase with a…UH OH!
As much as I don’t want to make this public, it’ll probably make for a chuckle. I got some help from Blain to understand Exchange Traded Funds (ETFs), and what’s available regarding renewable and alternative energy. One of the ETFs he recommended (as much as he could) was PBW (Powershares Wilderhill Clean Energy Fund), and it appeared to be just what I wanted.
So I pop over to eTrade where I have my Roth IRA. Mind you, I’ve only ever purchased mutual funds, so I don’t know the “ins-and-outs” of buying stocks. I went through the interface and plugged in the ticker symbol. I bought 80 shares at $17.97 each (with a stinkin $12.99 commission!).
But I bought 80 shares of PWB, not PBW!!!
I wondered why the stock was $3 lower than when I looked yesterday, but I figured now was just the time to buy, so I did. I got 80 shares of PowerShares Dynamic Lg.Cap Growth ETF instead.
Luckily, PWB is an ETF that tracks very well known “large and giant” companies. It could have been much worse as I could have bought stock in Potties & Wash Boards Inc., had they existed and been publicly traded. I guess it’s not a total loss, and I still have room for another $500 contribution to our fund this year. I’ll have $800 to buy PBW when I max out the Roth sometime in the future.
Yet another stupid thing I’ve done out of laziness.