No. of Recommendations: 1
This an account which can make a grown man cry,cry,cry.during the deregualtion frenzy of the 1980's.many Electric utility companies diversified in non-utility investments such as banks and S&L's. this tuen of events turned out tob a grave and costly mistake. the companies lost tremedous amounts of money.For example, Arizona Public service co.9(pnw) and tucson Electric(unisource) went bankrupt or almost did. The stock values plummeted to $.50 and low dollar values from as high as $56.00. which brings me to the poignant point. at (at that I was working for one of the companies.)A good friend suggested to rather strongly that Tucson Electric stock valuation would come back in 5 to 10 years.And he said mortgage everything and there will will come atime when you will be living in Aspen. i did notlisten.Whereas he invested $50,000 at about $1.00-$2.00 per share.In 1996. he cashed out at a very handsome profit and moved to Aspen.and the rest is history.Buy when everyone is running.
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