<THE FRIBBLE>
Thursday, July 22, 1999
The Chuck Schwab Carpad
I am a Foolish, small stock investor. Many years ago, I purchased Schwab stock when it went public at $16. I later Foolishly converted it to a dividend reinvestment account and sent $25-$50 periodically to purchase additional stock, regardless of the price.
My good friend is in upper management at Schwab. She dumped all of her stock at $22 and advised me to do the same because online trading would kill Schwab. I did not listen. Later, my stockbroker said dump it at $28 for the same reason as my friend. I ignored him (that's why I pay him the big commissions, but that's another Fribble).
Last summer, my husband and I needed $28,000 to build a carpad on a hillside behind our home in Marin County. This investment would add over $50,000 to the value of our home. I sold the bulk of my stock at $45 to finance the venture. Schwab currently fluctuates around $95. However, I feel like the added value to our house is the same as selling my stock at $90.
While opinions and advice are useful, be wary of well-meaning employees of companies with which you are invested. My friend is now quite busy attending farewell parties of departing millionaire co-workers.
| Recent Fribble Headlines | |
| 12/26/00 | The Do Donate Fribble |
| 12/22/00 | The Don't Donate Fribble |
| 12/20/00 | Ode to Mom at Christmas |
| 12/18/00 | More to Life Than Net Worth |
| 12/15/00 | Seasons in Investing |
| Fribble Archives » | |
Have a similar tale?
Talk about it in the Fribble Message Folder!
</THE FRIBBLE>
RSS Headlines
Fool UK
