Answer Below..
Like why did we bother buying anything else? We’ve owned hundreds of Companies since 1999. Not to mention a lot of work in finding good Companies and promoting them. All we had to do is write a check in their IPO, sit back and sip a drink with a little umbrella in it.
Oh, yeah, we remember, it was fun!
Circle Group a client, traded from $0.36 in 2002 to over $7.00 per share a couple of years later and American Brewing, another client now known as New Age Beverage, traded from $0.30 to $8.95 (2015-2018). Oh, and let’s not forget Immunomedics, $3 to $26 (2016-2019). Woot.
Anyway..
Stock Symbol ??
Stock Exchange NYSE
IPO Date Oct 1, 1999
Valuation at IPO $895.8M
Amount Raised $126M
Share Price at IPO $14.00
Recent High $593
Shares Sold at IPO 9,000,000
Shares Outstanding at IPO 63,982,635
If someone bought all 9 million shares in the offering, the $126 million stake was worth $5,049,000,000 at its recent peak!
Why were we buying other stocks again? Oh, that’s right..for the fun. Must remember that..
Somebody pour us a huge-ass Martini!
Here’s a Clue!
Not for the faint at heart, this mighty Company was cut in half from $208 in August of 2008 to $90 in February of 2009 – or seven months of pure hell.
It took another vicious spill falling from $590 in January of 2018, to $360 in December of 2018 – a royal pummeling. For the record, the DJIA was up 5% the year they took the Rock out to the shed.
And the Company is…Black Rock!
GOOD JOB LARRY!
Jul 19, 2019 | Dow 27,000
Versus the Dow in Case, You Were Wondering
Underwriters:
Merrill Lynch, Pierce, Fenner & Smith
Incorporated.......................................... 1,051,000
Goldman, Sachs & Co. .......................................... 1,051,000
Lehman Brothers Inc. .......................................... 1,051,000
Prudential Securities Incorporated............................. 1,051,000
Salomon Smith Barney Inc. ..................................... 1,051,000
Moral of the story, why invest in mutual funds, when you can invest in the mutual fund manager.
