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How to Go From $1,000 to $74,000 in a Year
By JLP | March 16, 2010
File this under “Useless but Interesting Trivia”
A little over a year ago, you could have purchased 10,000 shares of Pier 1 for $.10 each (YES…that’s TEN CENTS EACH) for a total investment of $1,000.
At the close yesterday, those 10,000 shares would have been worth right at $74,000!
Of course it would have taken some real guts to invest in Pier 1 back when it was worth $.10 a share. Obviously things did not look good for the company or the economy at that time. Then again, it’s not like wagering $1,000 (let’s face it…this is gambling) would have been such a big loss if it didn’t work out.
Topics: Miscellaneous | 5 Comments »
March 16th, 2010 at 2:12 pm
I did something like this. I didn’t buy enough, but there is no looking back.
March 17th, 2010 at 10:20 am
My husband feels this way about Ford. I just can’t bring myself to buy the stock of a CAR I wouldn’t choose to buy. My boss has had multiple Fords (Explorers) w/various problems. Not exactly a ringing endorsement for me…
March 17th, 2010 at 11:01 am
#2 Stacey said: “…I just can’t bring myself to buy the stock of a CAR I wouldn’t choose to buy…”
If you, personally, would not buy their products — then absolutely do not invest in them!
Unless, of course, you are not investing, but instead are gambling
March 17th, 2010 at 11:02 am
“Then again, it’s not like wagering $1,000..”
Yes, it is exactly like wagering/gambling… for the typical investor. But at least in Las Vegas casinos you know what the basic odds are for a wager.
Even the management of Pier 1 didn’t know where the stock price was going. If you had bought Pier 1 in May 2008 at $10 per share… you’d have lost all your money in that stock by March 2009.
Hindsight is 20/20. Maybe it’s moderately entertaining to look at a winning Lottery-Number after the drawing… and speculate how rich you’d be if you had only bought that # before the drawing — but it’s much easier just to dream of being rich, period !
March 17th, 2010 at 11:07 am
Justin,
You misunderstood my post. I DID say it was like gambling.