I caught myself daydreaming last week…
“It was October 27, 2008, and Silver Wheaton (NYSE: SLW) just hit $3 per share. I buy 10,000 shares — more than I’ve ever devoted to any one stock.”
“I sell half when it hits $33 per share and pocket $150,000 after
a 1,000% gain. I pay off the mortgage, and my wife quits work — and I
still have 5,000 shares…”
Not a bad daydream, eh?
I don’t know how many investors actually had the intestinal
fortitude to plunk down a big lump of cash on a stock at that time — but
Silver Wheaton did indeed offer that 1,000% return, and more.
When you look back at the investments that have made the most money
over the past few decades, they’ve always been assets that had reached
an extreme—an extreme low or an extreme high. (more)
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