Msg. 02131 of 06530 (This msg. is a reply to
02128 by
capt_nemo)
Jump:
Nemo > CHG energy of NY state but that 12 year lawsuit I had to defend, drained that BUT one share of stock.
This is why diversification is so important.
Owning shares in a dozen different companies means if
one goes belly up you still have the other eleven to
keep you going.
I don't remember the name of it, but it was some sort
of banking or financial thing. In the 2008 2009
subprime meltdown it lost most of its value . . . Then
I think it got 'given' to another bank and all I got
was one shares worth . . . Ouch. But at least it was
a very small part of my overall portfolio.
I think some californica power companies went bankrupt
when californica did their usual socialist stupidity
coupled with trying to de-regulate their power companies.
You are doing very well zimmer, and have planned this out nicely. Kudos for starting early and sticking to your guns. I am a late bloomer in retirement accounts LOL. I had a good one with CHG energy of NY state but that 12 year lawsuit I had to defend, drained that BUT one share of stock. When they were bought out I got the check for ONE share . It was like $65. I started buying into that DRIP at $30
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