LawBeefaroni wrote: ↑
Mon Jul 08, 2019 11:53 am
Lets say you bought at the IPO around $50. Would you have held all the way down to $5 a few years later? Let's say you did hold. Would you have held at $100? $300? $500? $1000? The whole "I'd be a bazillionaire if I bought X at X" is a bit overrated.
My current average purchase price is around $980. No way I'll still be in in any significant amount if it gets to, say, $5000. Let alone $40K. Unless they start paying a dividend. *Cough* You hear that Jeff Bezos? *Cough*
It's funny how those things work. I was watching Good Omens (on Amazon, curiously enough) and one of the prophecies was to invest in Jobbes Apple that cannot be eaten. I also remember a movie, Frequency, where due to time travel, somebody gets rich off of Yahoo! stock.
Why is it never Disney, IBM, Exxon, etc? Why is it always tech stocks - they seem to be regarded as a money for nothing lottery in a way.
And Amazon should have changed to prophecy to AMZN
If Amazon goes to 5,000/share (or the equivalent after splits), it is most likely for a reason which could make you hold it.
FWIW, I still have my measly 25 shares (avg cost basis ~220 or so). A 10-1 split and dividends would be nice, but I'm not holding my breath.
Though if they had done the split, I probably would have bought more when it bottomed out around 1,660 a couple of months back, but just buying a share or 2 at that price "seems" weird, even if I know the actual price doesn't matter. I guess I'm just a conservative at heart!
There are three ways to not tell the truth: lies, damned lies, and statistics.