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Pastimes : Children and Investing
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To: Early Out who wrote (1)11/2/1998 10:57:00 AM
From: Patricia Meaney  Read Replies (2) of 22
 
John,

I have brokerage accounts for both my children ages 8 and 3. When I first opened the accounts a few years back I thought like you - buy something kid related so I purchased them small lots of Mattel. When I tried explaining to my older daughter (she was 6 at the time) what I was doing with her money, she had the impression that I was purchasing toys since Mattel is a toy company. At that point I figured she hadn't a clue to what I was doing. That Christmas the Cabbage Patch line of dolls ran into trouble. Apparently a couple of children actually got their hair caught in the mouths of these "eating " dolls. My daughter was listening to the radio one morning when they made the announcement that they were recalling the dolls. She asked me "Does Mattel make cabbage path dolls?" I told her that I thought they did and with that she said "Oh no, what is going to happen to my stock now?" So I guess in her own little way she does have some kind of an understanding.

Since then I have decided to buy what I thought would do good long term regardless of what type of business they were in. To this date my children's portfolio have the following: MAT, AIT, KOF, SBC, BA, and CMB. I did recently buy some PAIR which I will probably not hold long term - I'm not sure if this was wise since I will have to file a tax return on any capital gains for them.
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