Saturday, May 01, 2010 4:21:03 PM
I first invested in tech in 1998.
I bought 500 shares of AAPL at a split-adjusted $7.50 for $15,000.
You are correct in stating that AAPL essentially flatlined until 2004, but I didn't mind. I had foreseen Apple's success and was willing to wait it out until the market figured it what I could already see back then.
The stock has split twice since I bought, and I now have 2000 shares worth $520,000.
At the time I made my first tech investment, if I had chosen Microsoft instead of Apple, my $15,000 would now be worth about $26,000.
AAPL has performed 20X MSFT's performance over the course of my tech investing career.
I know a couple of geezers that did well in MSFT back in the day, but I was looking for the next big opportunity, not one that had already occurred.
I credit Microsoft for its past performance, but it has been totally over for them since 1998 as a means of providing wealth to new investors. Meanwhile Apple is still in the early stages of bringing wealth to those who own the stock.
I decline your invitation to take lessons in revisionist history. I'll leave the fabrication and distribution of revisionist history to you, as you have demonstrated your considerable expertise in that area.
I bought 500 shares of AAPL at a split-adjusted $7.50 for $15,000.
You are correct in stating that AAPL essentially flatlined until 2004, but I didn't mind. I had foreseen Apple's success and was willing to wait it out until the market figured it what I could already see back then.
The stock has split twice since I bought, and I now have 2000 shares worth $520,000.
At the time I made my first tech investment, if I had chosen Microsoft instead of Apple, my $15,000 would now be worth about $26,000.
AAPL has performed 20X MSFT's performance over the course of my tech investing career.
I know a couple of geezers that did well in MSFT back in the day, but I was looking for the next big opportunity, not one that had already occurred.
I credit Microsoft for its past performance, but it has been totally over for them since 1998 as a means of providing wealth to new investors. Meanwhile Apple is still in the early stages of bringing wealth to those who own the stock.
I decline your invitation to take lessons in revisionist history. I'll leave the fabrication and distribution of revisionist history to you, as you have demonstrated your considerable expertise in that area.
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