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Author: gtjglc Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3841  
Subject: I swear it wasn't my fault Date: 11/20/1999 1:26 PM
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About ten or fifteen years ago, when I was but a wee lad, my grandad gave me 100 shares of a company named Comptronix. they were a local company and he thought it would be a great way to get me interested in investing.

I have no idea if he researched the stock or not, but I know I sure didn't. I just watched the stock quotes on the local news and, if my attention span could hang on until the C's came around, I'd see how I was doing.

Well, mystery of mysteries, the stock went up. Just kept on going up and up, which made my life very difficult because I was in eighth grade or something and all I wanted to do was sell the stock and get my thousand bucks to spend. But, since it kept going up, I kept hanging on.

Eventually it doubled, went from 10 bucks a share to 20, so I sold half of my investment and bought that big speaker cabinet that I had had my eye on for so many months.

Not one month later, it was revealed that everyone who worked for comptronix was going to jail 'cause the whole company was crooked as a creak and they hadn't done anything but change all those little minus signs to plus signs in their revenue reports. Within a few days comptronix was trading in the $1-$2 range.

I sold out and came out just about even. The big, big loss, though is that it scared the crap out of me. It was like going up in that sort of scary attic in your grandmother's house only to find the corpse of your long-lost uncle. It kept me away from the market for years. Only recently have I overcome my terror and discovered that, yes, I can actually make pretty acceptable decisions and that I don't have to be afraid. Who knows how much opportunity I have lost by staying in my hole so many years.

- Gregory Lee Jones -
Check out my Speaker's Corner Message Board: Non Profit Investments before you throw away that holiday donation money.
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