Investing 102

[Sieg]

Originally Posted by GregWeld

We owned a LOT of Microsoft stock back in the mid 90's.... and we wanted to buy a boat. SO -- I sold enough stock to pay cash for it. Okay -- we're talking "Yacht" to most here - but I always just called it "the boat".... by the time I paid the taxes - paid for the "options" price on the shares and got enough to pay for the boat - I'd sold over a million bucks worth.... SIX MONTHS LATER - the stock splits 2 for 1 -- and in another 6 months it splits 2:1 again - and a year later splits 2 for 1 again! I figure I paid around 20 million for "the boat"... it was the smallest 20 million dollar boat in the history of the UNIVERSE (thanks AL!).

BUT Hindsight is 20/20 and at the time -- there was no f'n way I was going to borrow money to buy a boat! What if the whole world fell apart?!?! At least I'd go down not owing anyone for anything! That is just the way I roll.... but man I wish I hadn't done that!

Thanks a lot! I just about pissed myself A good friend of mine who is an employee "incentives" manager for MS just bought a boat (dingy) last month and I've been harassing him a "little" bit about his personal wealth wealth.

This thread is truly a priceless lesson in life!