I just sold all my Citigroup stock. I bought it at $4.05 and sold at $3.41 or something like that. Good thing I didn’t buy that much to begin with. Right after I bought it, it went up and then went down and stayed down.

I know that patience is required when it comes to dealing with stocks in the stock market, but ever since I got into Asset Allocation, I haven’t looked back. I am getting rid of my mutual funds and individual stocks. Well, all except one stock. I really like this one because it pays a HUGE dividend. From now on, I am only investing in low cost and tax efficient ETFs. You know, stuff I can actually feel good about putting money into for the next 30 years or so.

Let me tell you about my feelings on individual stocks. If you like to risk money, then by all means start investing in stocks. Hey, you might pick one of the best stocks in the world. Ummm, then one day there is a strike at the company or something happens to the CEO. Still the best stock? You get the idea. I don’t have faith in individual stocks. I know that when the highs are high, the lows are also low. There have been times when certain stocks have gone so low they never came back. I don’t have the stomach for that and neither should you.

I want you to take a look at a video. It’s of a very intelligent sounding gentleman giving his thought on Citigroup’s stock price.

Did you watch the whole video? I didn’t think so. Is this the way people really do this stuff? Let’s say this guy came over your house and made the same presentation. Would you write him a check for him to invest in Citigroup when he was finished? Probably not. Then why in the world would you put your money into something like this? I’ll be the first one to admit that I made a mistake when I did. Sure, you may be reading this at a time when this particular stock is going through the roof. It may, but they may also go bankrupt. Who knows. I have better things to do.

Here’s one last thought about very intelligent financial people. Have you noticed the economy lately? I bet you can’t even count how many very intelligent financial people have gotten us into this mess. Let’s just say that you shouldn’t listen to anyone…you should listen to everyone and then make the decision yourself. Look out for number one.

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