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COMB and the Clerk-A true story   Vote_lcap68%COMB and the Clerk-A true story   Vote_rcap 68% [ 178 ]
COMB and the Clerk-A true story   Vote_lcap18%COMB and the Clerk-A true story   Vote_rcap 18% [ 47 ]
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FINANCIAL CHRONICLE™ » FUN CHRONICLE™ » COMB and the Clerk-A true story

COMB and the Clerk-A true story

3 posters

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1COMB and the Clerk-A true story   Empty COMB and the Clerk-A true story Thu May 19, 2011 6:35 am

tkc

tkc
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

COMB price in 1970s was around 17/- and a gentleman working as a clerk in Colombo bought 100 shares with his 6 months savings.

He had a little kid , a girl, and his wife was not doing a job. He could not continue any investment activities thereafter, due to financial commitments.

After many years, his holding in COMB rose to few 1000s ( I think about 7000 / 9000 ) because of regular 1 : 1 / 1:2 yearly bonus given at that time.

In 1990s he got retired and 2 years later, this retired clerk took his daughter's wedding in Hotel Intercontinental with the cost of 200,000/- and he gave her about 600,000/- to her as the dowry ( a very big amount at that time) ; surprising all the relatives and friends around him.

He did all this BY SELLING HIS COMB shares he bought for 1,700.00 years ago.

By SLstock

2COMB and the Clerk-A true story   Empty Re: COMB and the Clerk-A true story Thu May 19, 2011 4:04 pm

Rocky

Rocky
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

People today want instant gratification.
Waiting for decades for riches to materialize is only for a few, and I bet you it was a lawyer or person studying to be a lawyer.

But that is the way with most Institutional Buying.



Last edited by hybrid_OS on Thu May 19, 2011 4:07 pm; edited 1 time in total (Reason for editing : Completed a sentence)

3COMB and the Clerk-A true story   Empty Re: COMB and the Clerk-A true story Thu May 19, 2011 7:19 pm

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

tkc - nice story

If someone invest and go to sleep for like 20 years and see what has happen, it could even be such a horrible result.

I remember Mono was saying one day in this forum, his father invested 2million 20 years ago for their future education. His father invested on US tech companies through a local broker. But recently when they check the investment the value was around 60,000 LKR. The .com bubble smashed the share prices big time.

Therefore its always advisable to keep eye on your investments regular basis

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