Random and dumb thoughts:
Over a year ago, while the subprime crisis hasn't full hit yet, I decided to buy 50 shares of Countrywide at $22 in my IRA account. The thinking was I won't able to touch the money for another 30 years anyways, might as well give it a shot. Of course, Countrywide crash and burns, gets gobbled up by Bank of America. So now I own 8 shares of Bank of America, which I was too lazy/cheap to sell. After this weekend, the ownership of BofA also means ownership of Merrill Lynch. At this rate, I will own stocks in half of Wall Street from that 50 shares of Countrywide by the time I retire!
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5 years ago
2 comments:
Do you think your 50 CFC will ultimately work its way into the BoACokeMcDonaldGEHathaway Empire or the BoAJPMPepsiTacoBellDisney Conglomerate?
I just had an idea for an interesting, useless, and time consuming study...
You go back and find any public company that no longer exist and trace where their 1 share of stock have become and how many shares it has become of the new company.
For example:
My 50 shares of CFC became 8 shares of BAC. Maybe in 5 years, GE buys BAC buys every share of BAC with 2 shares of GE. So my 50 shares of CFC would become 16 shares of GE.
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