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原帖由 如花 于 2006-10-23 13:23 发表1 L( c# M5 t; D; [, Q: K- Z1 g
如果是买了nortel呢? ; U: d4 j6 ~( T) v; }
2 j8 G! X6 d- n" hOn July 26, 2000, two friends, Jim and John, each got a $1000 bonus at work. (They both work
! D2 K2 w$ |7 x" ]+ J0 w2 L$ `for Nortel Networks, where in the summer of
" H; L' }- i. ]% B9 U$ u H2000, there was LOTS of money around for bonuses). ( _ X; |/ ~ ~
# V( Z3 t$ V% d2 SJim, being an intelligent, financially concientious person, put the
9 ^2 p2 k' C3 F4 D3 `whole $1000 into Nortel Networks stock. With his $1000, and the5 F! n0 V8 Q9 e) u# b% ?2 v: i
transaction cost of $35, he was able to purchase 7 shares at $123 each. Having watched the
, n- D5 B8 |2 C' @3 lNortel stock climb and climb, he
8 h* ^, @/ R; c: \! S# m: ?felt very good about this investment, happy that he is preparing for the future.7 z# |0 g5 E4 Z& e
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John, being a more care-free sort, did something slightly different
* d, @+ a5 o v% s/ l0 rwith his $1000. John borrowed a friend's truck, and proceeded to the Beer Store, where he }. k3 p4 Z! m p, L/ b
purchased 33 cases of beer. John also
) N8 ^: }" h+ D6 Xfelt very good about his investment: 33 cases x 24 = is 792 bottles& v0 l6 F& [$ j$ d
of beer! John, also being an intelligent guy, although perhaps not as forward-thinking as Jim, % }% r7 E' _% F/ K6 ]6 E
calculated that he could drink about 15 + Z% t6 E% d$ @# `
bottles per week, and he wouldn't have to buy beer for a whole
# k3 {& }; Y1 @2 `9 dyear.
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Jim, of course, was appalled by John's purchase, and berated him. J7 z# J4 P0 p$ i: L' J
constantly about it. As months went by, Jim excitedly watched the stock prices, and saw it start to
" p' \) y* ~% h2 Q, P0 P1 pdwindle. "It'll go back up", he'd say to John./ b0 Q% q3 d0 J% R/ D
2 w! X D( w6 D: V' Z' y* a& f! h- sJohn, who has been reaping the benefits of his investment on a daily
& {/ j! N' [: }9 L6 f& c5 q0 rbasis, would reply, "Ya, it will. Hang in there buddy".
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Months went by, and the value of the stock continued to fall, and there was the beginnings of a
% S3 w5 J% b, Y$ N! z' O% j' Jnoticeable dent in the beer pile.
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! b* n8 n6 v2 ]3 m, T$ WMidwinter came, Jim's stock had fallen to about half of it's original value, and John's beer was
( X' Q- t4 ~0 J( Uabout half gone. Jim, being sure that the
$ k: r; T) B" V! P% P) ^stock had hit rock-bottom, still was berating John for his frivolous: X. t' t+ c' l+ H
purchase, telling him "Your beer will be gone in six months! Who knows what my stock will be
. O% c y. _/ _1 U; p) Q5 kworth!!".
7 L1 r# s0 T8 I' i2 x
7 F' @ ^" }8 n$ lWell, summer has come, and hard times at Nortel continue. / O# ~8 W4 j$ |) |, o# ]0 k
Bad news: Both John and Jim have been affected by the layoffs.
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Last week, in order to raise some cash to help through
, s6 Q7 o4 z% D5 s# e! `7 mthe rough time, Jim sold his 7 shares, at that day's value of $12, and got $84, then after paying the
0 ^; n# G# n! s- j$ d$35 transaction fee, he only had $49. Jim stopped by John's house later that day (everyone9 b( m, Q. n2 E8 Y- M+ c
needs their friend's during rough times), and as luck would have+ @. [) T& X/ V
it, there were two bottles of John's beer left. John, being a good,3 g9 C9 w7 ~ s" [: d' m4 F
compasionate friend, offered to share his last two bottles of beer with his friend. Jim appreciated " M! ?# i- F- R& s
the gesture, and enjoyed the cold beer on the hot summer's day, but he felt a bit guilty. "At least I 1 o8 A4 v7 b h0 E
got fifty bucks back out of it - you have nothing now.", he said. o q, X8 k+ W6 `
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"That's ok.", replied John. "Perhaps you can help me, I need to return all these empties.", he
* `2 }: F5 x( w. b+ vadded as his other friend with. Y$ q% z! O5 k
the truck pulled in. So, they loaded up the truck, and proceeded off to the beer store.
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Upon arrival at the beer store, they unloaded the empties, feeling a/ V" P6 h2 K# X! ]8 D
little grim. John went to the counter, and collected his refund for the bottles. "33 cases x 24 1 j& X$ U1 l8 a$ p) v* m
bottles, at 10 cents per bottle, that comes to $79.20", the friendly Beer Store clerk said to John as
4 P( h. l# h# y6 s. u, vhe handed him the money.
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Jim was speechless. Poor guy. Can you imagine how you
1 P4 R3 x8 [, w2 r! B {+ gwould feel if you just discovered that over the course of the last year, your $1000 stock investment
# r* ?! ]3 {) j7 u1 T! T$ ?left you with $50, and taking same 1000, buying beer, and drinking it, would leave you with $80.
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3 e+ |0 a0 C$ b {+ _I'll leave it up to the reader to come up with they're
0 s* J' G3 ^6 A% X2 g: {( Nown "moral to the story"./ u6 i4 S z" p
2 H/ {9 K( L$ Z4 e2 I# b: ], I6 C% m" lHave a nice day, and happy investing. |
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