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原帖由 如花 于 2006-10-23 13:23 发表
! \ r% g" L; X0 Q, B! p如果是买了nortel呢? : V9 s( k1 V$ E1 ]1 v
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On July 26, 2000, two friends, Jim and John, each got a $1000 bonus at work. (They both work ' P1 l( @" w# g( u
for Nortel Networks, where in the summer of
/ x% ^) m4 n8 Q. ^0 h2000, there was LOTS of money around for bonuses). $ L3 d7 m& T3 ^2 ~2 x; K
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Jim, being an intelligent, financially concientious person, put the. u1 m# e2 b. F7 M4 O \
whole $1000 into Nortel Networks stock. With his $1000, and the1 j8 H) M$ {* o( J0 |
transaction cost of $35, he was able to purchase 7 shares at $123 each. Having watched the
1 A M& Y7 f4 {6 UNortel stock climb and climb, he
. v; t: N; B$ o! u4 G1 Nfelt very good about this investment, happy that he is preparing for the future.
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6 ~' }1 A2 Q# [9 J' p8 OJohn, being a more care-free sort, did something slightly different
3 r/ h8 @ D% Q$ o* q3 \with his $1000. John borrowed a friend's truck, and proceeded to the Beer Store, where he ! r0 ?0 Q5 h, q2 b: L
purchased 33 cases of beer. John also n! d) d1 C0 F2 h5 I) i& F
felt very good about his investment: 33 cases x 24 = is 792 bottles. m2 y/ H0 o0 z5 D% T
of beer! John, also being an intelligent guy, although perhaps not as forward-thinking as Jim,
' Q, l. Z3 x/ lcalculated that he could drink about 15
& n/ x/ c2 f/ cbottles per week, and he wouldn't have to buy beer for a whole1 Q: X7 W7 _$ F* q- t% n" d2 B
year./ F" D4 w! Z0 N2 b
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Jim, of course, was appalled by John's purchase, and berated him/ J6 C1 }2 y" ]. X( t8 Y5 ~
constantly about it. As months went by, Jim excitedly watched the stock prices, and saw it start to
- X; y- ]7 H& E# u: u y, W# Zdwindle. "It'll go back up", he'd say to John.& M$ a0 o& a6 @- ^3 C$ h" C
! k' {+ ` ^9 c: y& VJohn, who has been reaping the benefits of his investment on a daily9 g3 \2 B# P0 i) D8 y
basis, would reply, "Ya, it will. Hang in there buddy".
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. \: L& ?, I; o) ?" i8 l' OMonths went by, and the value of the stock continued to fall, and there was the beginnings of a
& }) h( k$ _- S. x" xnoticeable dent in the beer pile.
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Midwinter came, Jim's stock had fallen to about half of it's original value, and John's beer was
& `6 n( f2 Q b1 Yabout half gone. Jim, being sure that the4 e- f9 P8 @/ A
stock had hit rock-bottom, still was berating John for his frivolous; d! v* ^0 R+ ^% |( w, h
purchase, telling him "Your beer will be gone in six months! Who knows what my stock will be
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# r% |. v$ T$ P7 }) T/ J5 SWell, summer has come, and hard times at Nortel continue.
0 @ p' F+ I# D: yBad news: Both John and Jim have been affected by the layoffs.) w6 X* Z1 w0 H9 P+ P( |8 f
' E' c+ J7 \/ pLast week, in order to raise some cash to help through
+ S9 w6 y% R/ ]- U# x; j8 L5 G7 athe rough time, Jim sold his 7 shares, at that day's value of $12, and got $84, then after paying the ( V9 u/ t/ g8 K9 [5 c' A3 ~
$35 transaction fee, he only had $49. Jim stopped by John's house later that day (everyone7 [- X y/ Q: y5 C
needs their friend's during rough times), and as luck would have
* N5 F4 b7 h) |7 g- \2 Q$ v: ?it, there were two bottles of John's beer left. John, being a good,* i5 H9 B) q) d
compasionate friend, offered to share his last two bottles of beer with his friend. Jim appreciated
. \; N; F3 K$ v/ z" P, \$ bthe gesture, and enjoyed the cold beer on the hot summer's day, but he felt a bit guilty. "At least I % c% |$ i0 b: B: Q$ x: B) B6 i& m
got fifty bucks back out of it - you have nothing now.", he said. 7 g K0 m9 I# l
% j, z) c5 ], F8 E"That's ok.", replied John. "Perhaps you can help me, I need to return all these empties.", he
' H+ F( d, x& a3 Y: E/ Oadded as his other friend with
4 R' r, M* D& J6 [. x6 S/ s8 H/ Gthe truck pulled in. So, they loaded up the truck, and proceeded off to the beer store.6 F; k7 s: ^4 ?. ^
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Upon arrival at the beer store, they unloaded the empties, feeling a+ Q' Q, q0 f5 Z/ {
little grim. John went to the counter, and collected his refund for the bottles. "33 cases x 24
) }5 r q. d' V3 Fbottles, at 10 cents per bottle, that comes to $79.20", the friendly Beer Store clerk said to John as3 |* R4 h; E' k/ y7 H% ^" o
he handed him the money.
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' f' B( P, O4 c7 IJim was speechless. Poor guy. Can you imagine how you( y) f3 Z9 T; D9 n; u. C% A) V
would feel if you just discovered that over the course of the last year, your $1000 stock investment 4 v& t3 f1 r3 [
left you with $50, and taking same 1000, buying beer, and drinking it, would leave you with $80.
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- d0 d8 F8 H, V/ C jI'll leave it up to the reader to come up with they're
# \- X5 J3 W! b# Qown "moral to the story"./ c. l- q. l5 }6 i2 ^2 t/ x# Q @
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Have a nice day, and happy investing. |
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