Monday, March 20, 2006

Long-term investing pays off

This is rather interesting:
GOOD DAY FOR: Buying and holding, as stock certificates issued by the collapsed energy-trading firm Enron have become collectors' items selling for as much as $375 on, a Web site specializing in the sale of old stock and bond certificates. (Associated Press)
You can see the whole AP story here. According to this Wikipedia entry, at its high in 2001, an Enron share was worth $90, which means that if someone held on to them until now and is managing to sell them on at $375 each, they would be making a 416% profit. Not bad...

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