When the account was first opened I planned to make regular monthly investments of £25 (the subscription). The subscription date was set up as the first Tuesday after pay-day (27 Jan 2009). I know this seems very small but I just wanted to give it a go.
The next step was to identify a stock in the depressed market which looked solid enough to last and looked to be undervalued. So to start I had a look at the share tips in Investors Chronicle. I wanted something under 50p per share as it would only take a small rise to move into a profit.
I settled on Filtronic (LON:FTC) and set the buy date as the first Friday after the subscription date(30 Jan). I got an actual buy price of 26.68p which after commission (£1.50) and stamp duty of 0.5% meant I purchased 87.647611 shares. This meant the average cost of shares was 28.52p.
Next Meeting
3 years ago
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