Tuesday, May 25, 1999
Investing: Take Two
A couple of years ago my folks gave my siblings and me some shares of Monsanto as part of our inheritance. A broker from their town called me during a Christmas party to tell me of the account that was started in my wife's and my name. Merry Christmas! Eighty shares at $40; a great gift!
Days afterward I began to look at "The Market" -- the big, rolling money machine that was making people rich. Okay, so I was green and looked at the wrong postings for my information -- those little, over-hyped puny (oops, penny) stocks that gained magnificent percentages in short periods of time. I bought it all. One biomedical company had a new "potion" that was going to revolutionize the world. My $4,400+ fell victim to a 1-for-10 stock split the day after I bought, and then dropped 50% at the opening bell. After waiting waaaaay too long for good news, I bailed out for a net of $334. Ouch, and I mean it.
Skipping the details, I invested several thousand other dollars to make several other tens of dollars in two years, and have since bailed out. Now, in the vein of Fool Lydia Vorsteveld whose Fribble I read on May 5th, I show the following: General Electric, Microsoft, Monsanto, Amazon.com, NetGravity, Crosswalk.Com, Wal-Mart. My wife and I put 7% into my 401(k) at work and have a DRIP with Wal-Mart. I use coupons, drive older cars and have a blast with our four children doing inexpensive, fun things. We're working on getting rich slowly, which can still be done on one average income. I have a speech for that, too, but it'll have to be another time.
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