Monday, May 19, 2008

Blind Dumb Luck

Late last year I bought a stock that I thought was positioned to do pretty well (I’ll say “I” instead of “we” because Wendy rightfully does not want to be associated with this decision).  I didn’t buy much, but it was over a thousand dollars.  The stock has since dropped to less than half the price at which I purchased it.  I still think it will do well, but not for another couple of quarters now. 

After the purchase, I had just a few bucks left in our account.  I hate to leave money around not doing anything, so I bought another stock on a whim based on broad economic trends (a coal mining company in China).  I bought a single share at $4.  Since that time, this stock split, thus giving us 2 shares, and the price has climbed to $11.75 per share.  So my $4 investment has turned into $23.50 - nearly a 500% increase in six months.  I think I’ll cash it out and buy half a tank of gas. 

If only the amount invested in these two companies had been reversed…

(3) Comments
Posted by Owen at 1207 hrs
Off-Duty

  1. HA!  “Over a thousand dollars.”  It was worth a lot more than that before you “invested.” 

    That’s the last time you get to control the “play money.”  LOL

    Posted by .(JavaScript must be enabled to view this email address) on May 19, 2008 at 1446 hrs


  2. Didn’t your mother teach you to share??  Like in sharing a stock tip??  ha ha ha

    Posted by .(JavaScript must be enabled to view this email address) on May 19, 2008 at 1701 hrs


  3. I still think it will do well, but not for another couple of quarters now.

    How many quarters? cool smirk

    Posted by .(JavaScript must be enabled to view this email address) on May 19, 2008 at 1813 hrs


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