Daaaarrrrnnn!!!! I don’t know why this didn’t occur to me sooner. Right now I am in this investment challenge game, where you actually make real-time trades with stocks, mutual funds and options. You start out with about $100,000. About a month and a half ago, one of the stocks I picked was Nortel. Now at the time, people were like Nortel?!?! Why Nortel?! Since they were actually going to meet earnings expectations (which was a big deal considering they missed it for like the past year), this was going to be a big deal.
I hesitated for a day and could’ve purchased it at $0.78/share but ended up getting it for $0.93/share. That doesn’t sound like much but consider this: If you put approx $100,000 into it, you would’ve gained approx $19,231 in a day. Overall, I was pretty confident in it. I sold it off shortly after @ $0.98. After more good news, it jumped to $1.26, so I was like that’s it, I’m getting on this gravy train!! I was jokingly telling everybody to mortgage their house on it.
Now it never occured to me to actually put some REAL money in it. Even though it would’ve been small. Now, it is trading at approx $3.00!!! Not impressed? That $100,000 dollars would be approx $425,000 or HOUSE x Nortel = MANSION.
So it wasn’t a joke after all.