A Baltimore Portfolio
Individual investors are most successful when they buy into the idea that they are owning a part of a business for the long-term, not short-term trading or speculating on stocks. And a good way to build and maintain that mentality is to buy companies that you can root for through thick and thin. Adding a little civic pride to your portfolio can be a part of that. By owning a few of the local companies that make your community great, you can keep your short-term emotions in check and become an owner for the long haul. And since I'm from Maryland, thought I would see if I could make a portfolio of five companies from our biggest city, Baltimore.
The five companies I came up with to represent Baltimore are (follow the link above for more detail):
Under Armor (UA) was founded by University of Maryland graduate Kevin Plank, who just wanted to make a better practice shirt for his friends on the Terps' football team.
T. Rowe Price (TROW) started as a Baltimore asset manager in 1937 and introduced their first mutual fund in 1950.
Legg Mason (LM) spent part of its history in Virginia, only incorporating in Maryland in 1981, but it has roots in Baltimore stretching back to 1899.
With no other large, public companies in town, I had to look to the suburbs to round out my five:
Jos. A. Bank (JOSB) began as a tailor shop in Baltimore in 1866 before moving north to the suburbs in 1991.
McCormick & Company (MKC) started out in Baltimore as a one-room shop making root beer in 1889 before also heading to the suburbs near Hunt Valley in 1991.
Just as rooting for the Orioles and Ravens helps keep people engaged and connected to the community, rooting for local companies can help keep investors engaged with their portfolios and give them the fortitude to stick with their convictions and stand by their local businesses when market conditions get rough.