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Seeing is believing

Sep 20th, 2007 14:04 by Yikes

On February 1st of 2006 I bought one share of Google stock. I paid $400 for it. I planned to ask for the certificate and display it in my office. I wanted to be able to say that I bought Google at $400.

Today Google closed at $555 and I am up a whopping 39%.

Suppose I sold my share today and took my $155 profit.

$155
-$40 for trading fees
————————–
$115 Gain
-15% Capital Gains Tax
——————————
$98 Net Gain

My net profit is $98 (24%) This sound pretty good, except that the dollar has dropped 34% since Feb 2006 and I have actually lost 10% on this transaction.

BTW, I left for a moment to sell the share during my composition of this post. I can’t afford losses like that. I bought SLV (silver) with the money. I don’t expect to make a profit on SLV, just freeze the $555 asset. I expect that the dollar will fall a lot more than 34% in the next year. Alan Greenspan actually said in his new book that it would be best to keep your money in “other than US currency”. Ironic isn’t it?

Yikes!

Comments welcome.

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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