Tuesday, 11 April 2017

An Investing Story

Around 2008....I worked with a guy whose dad called him up one day about a stock....SIRI (Sirus XM Radio).  It was doing lousy and gone down to 10 cents a share. His dad was hearing some good stuff about a comeback.  Dad said he was going to $10,000 of shares (figure about 100,000 shares).

My buddy brought this up with me.  I just couldn't see the wisdom....it was a dying stock in my mind.  The buddy went ahead bought some stock (couple days later, it was around 12 cents a share).  I seem to remember it being near 150,000 shares that he bought.

Six weeks later....stock was near 18 cents a share, and I jumped into this.  I wasn't crazy over a huge number.....so I bought near 2,000 shares.  About two months later....it was near 25 cents and I sold my shares, happily.  I went back in a couple months later at 35 cents and sold at 45 cents.

My buddy and his dad were still into this in 2010, and I suspect they are still both into the stock.

Value now?  I was glancing at stock prices today and went back to look over SIRI.  His dad would have $500,000 of value.  My associate would have $750,000.

You come across some kind of gamble like that once in your life.  Either you take it or you walk away.


An AP Story

I read a fair amount of news, and came to this one odd piece, which developed from two days ago as a 'man-lost' story.  The AP wrote up the original piece, and the end-piece (appearing late last night).

For those who are familiar with the Atlanta Braves....they once had this outfielder by the name of Otis Nixon.  Toward the end of his career....he was lucky enough to be picked up for a couple of seasons with the Braves.  He was suspended in one season for drug use (cocaine).

So Otis came up in the last couple of days and told his girlfriend that he was going golfing, and left in his SUV.  He didn't come back.  She got all worried and upset.....then called the cops.  The cops simply put out a note to folks about him missing....but I doubt if they put any effort into this.

Yesterday, Otis reappeared.  As the AP noted.....foul play was not involved.  They kept you dangling over this episode.....telling you little else.

Then they kinda end the story....Otis had 1,379 hits and 620 stolen bases over a 17-year career.

It's how a guy would like to end a mysterious epic disappearance....just some AP writer noting his baseball statistics from a career twenty years ago.  You could have just chatted about the wife, girlfriend, or kids.....but you need some slam-bang ending to a story.