Taking Stock in Salon.com

Dave and I bought stock in Salon.com.  We are not really big time investors, but we decided not only to buy 1000 shares in Salon but to explain our purchase to the blogosphere. 

I have to be honest with you:  one of the main reasons we even considered it is that when we first looked at the stock value, it was $.11.  By the time we bought it, the price was up to $.15, and by Thursday of last week, it had climbed to $.19.  We’re reeeeech!  Reeeeech!!!!  Well, maybe we would be if we bought more than $150 worth of shares, but whatever.  Going up is better than the alternative.  (Dave points out that the increase has at least covered our transaction fee.)

So why buy stock in Salon when the rest of the world thinks it worth pennies per share?  Because we follow the Motley Fool’s advice:  you buy stock in what you use.  (And we follow our financial advisor’s advice that we only spend enough money on individual stocks that we’re willing to lose!)  I’ve been a reader of Salon.com since months after it started.  I was one of its “charter members” and have renewed my membership every year.  I have my freakin’ blog on their site, despite the fact that the naming conventions suck, and we’re actually even a small group of blogs. I’ve even given away gifts of Salon subscriptions over the years to folks who have probably thought “Ummmm, yeah.  Thanks?” 

Why the loyalty?  How about the most recent example:  Salon.com was the only news source (including the NY Times and NPR) to seriously question and to provide evidence that the rationale for going to war with Iraq (i.e., those elusive WMD’s) was wrong.  I love the NY Times and am very loyal to them, too.  But they have even admitted that they did not adequately question the WMD evidence.  I kept wondering why everyone wasn’t showing the hard analysis like Salon was .  I have since wanted to scream from the top of my house “SALON TOLD YOU SO!” with every new “revelation” of incorrect data that has emerged since we invaded.   

And Salon is an equal opportunity critic.  They go at the left, the right, the green and the Nader.  I find that they have a more liberal bent than other media, but those are also the columnists I read.  And to be quite honest, I am probably most loyal to the gossip, advice, and entertainment columns, because, well, I’ll tell you:  every week I read the NY Times and Star Magazine.  It’s like eating French fries with your salad; they cancel each other out, right?? 

I’m such a loser loyal Salon-er that when I see their advertisements on cable about how they are the only truly independent news media because they are not owned by a corporation, I go “WOOHOOO!!!  That’s SALON!  Dave, COME LOOK AT HOW GOOD THEY ARE!!!”

So we believe in Salon.  And we bought stock.  It may not be a wise investment, but it’s our philosophy:  invest money in what you use.  And I couldn’t be a more loyal user of Salon.  Why am I telling you this?  Go invest in something you believe in.  Check out Salon.  Join Salon and see if you don’t agree that they rock.  Or not.  I’m just all psyched to do something for something I believe in.

9:38:10 AM