"...she has one of the greatest "long-term-hold-stories" that has ever been told, whereas I've daytraded a few stocks into deep doo-doo."
"Do tell. What was it?"
Thanks for asking. This isn't a story about getting rich, but it is a great long-term story. Thirty years ago, when my wife was 16, in Rogue River, Oregon, she was given $100. for earning good grades. She went down to the new Valley of the Rogue Bank, which was nothing more than a single "mobile home," sitting on cinder blocks, and bought 10 shares @ 10. each. She never purchased another share in what is now VRBA, a major regional bank, but she now has over 1800 shares (having given hundreds of shares away over the years to nieces and newphews and Mom). Also, this is one of those kind of stocks for granny's retirement that pays a relatively large dividend each year (in stock and cash, usually). The stock has not appreciated in price (currently at a low six bucks or so), but remember, 10 shares have become about 2600 and she has received several thousand dollars in dividends over the years. Every Christmas we give nieces and newphews 10 shares each, hoping they will get the idea.
That's it.
Best,
Papillon |
