Investment Advice
If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00. With Enron, you would have $16.50 left of the original $1,000.00. With WorldCom, you would have less than $5.00 left. But, if you had purchased $1,000.00 worth of Beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling price, you would have $214.00. Based on the above, current investment advice is to drink heavily and recycle. It's called the 401-Keg Plan! :)
posted by The Sandmonkey @ 6/10/2005 01:33:00 AM
3 Comments:
Quit drinking, bought goog and aapl...aint complaining ;)
Oh and way off topic but...
Citigroup Paying $2B to Settle Enron Suit
1 hour, 12 minutes ago
NEW YORK - Citigroup Inc., the nation's biggest financial institution, on Friday said it will pay $2 billion to settle a class-action lawsuit over its role in the sale of Enron Corp. stock and bonds before the energy company's collapse that cost investors billions of dollars.
Under the settlement, Citigroup said it will distribute the payment to investors who bought publicly traded equity and debt securities issued by Enron and its related units between Sept. 9, 1997, and Dec. 2, 2001 when Enron sought bankruptcy protection.
http://news.yahoo.com/s/ap/20050610/ap_on_bi_ge/citigroup_enron
That's a very insightful comment, Sandmonkey. From over here in the US it seems the biggest thing holding back our economy is people are afraid to invest in the stock market. For no reason, except they remember how much money they lost 5 or 6 years ago! And I'm one of them, I have NO investments. And I don't care how often I see stock market gurus promising me that there are SAFE investments I could be making!
Greenspan's "irrational exuberance" has turned into "irrational fear" I think.
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