Quoted from Zablon:I like VYM, VIG, and VOO very much.
As for your question regarding the taxes, sure, you get taxed more, but you are also locking in profits. It isn't a negative thing if you don't plan to hold them long term. I do think you have to take a different approach to what you pick though. Buy on the hype, sell on the news..or just technicals..etc. Whatever you do, have a plan and stick to it. You'll see tons of stories by people who lost money because they didn't stick to their plan.
Thanks Zablon - will check those out. My strategy to date has been old school. Invest in companies with sound financials, business strategy, and market position. Both the companies I'm sitting on have tons of cash, distribution, and growth trajectories. Increase in dividends better than seeing cash in a money market or lousy return CD.
Tesla scares the crap out of me. I was in the smart car auto industry. What they are doing is awesome. But their financials make me very uneasy. I know I'm in the minority since as you stated, buy on the hype. The old school in me is balance sheet, market dynamics, and competitive position. Speculative investing not my formula to date. But, was going to put some money on the side to experiment. If I lose it, I learned. But won't bet big.