If you KNEW you had a 10-bagger.... (IRA, fund, mortgage)
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Peter Lynch was the first I saw using the term "10-bagger".
Have you ever owned one? I guess I could qualify because I owned 3M for 30 years and got 16 bags. But I was pretty young and pretty broke when I bought it so there wasn't much money inlvolved.
I have a "5-bagger". Bought BEAT at 17, 4 years ago. close to 80, now.
What would you do if you KNEW that you had one? How would you handle it, and how would you sell it? The possibilities are all over the place, but what would YOU do? Giving your age group may help the discussion. I'm 73 so my thinking may be different from yours....
To get a ten-bagger you'll have to suffer through lots of lesser gainers along with a few outright losers. Might as well own the entire market and go fishing.
If I knew I had one, I suppose I’d exit out of my index funds and load it all into that stock. And then I’d lord it over the peasants on citydata that they didn’t listen to my call.
If I knew I had one, I suppose I’d exit out of my index funds and load it all into that stock. And then I’d lord it over the peasants on citydata that they didn’t listen to my call.
But once your call had come about, what would you do? You've made a 10X return. Now what?
But once your call had come about, what would you do? You've made a 10X return. Now what?
Would it change your life?
For me, it would definitely change my life. I’m still young. And if my current investable assets actually multiplied by 10 and I then took it out of that and put it into an index fund, I’d retire with millions upon millions.
Say I have 60k times 10. Investing 600k this early (before 30) would make me very wealthy by age 59.5 lol.
Really?
Do you have enough investable money so that a 10-fold return would be that much?
No, it’s just that there is a very small chance you will be pick a 10-bagger out of thousands of stocks that are out there. It’s the holy grail that everybody is searching for.
The truth is 99% of stocks will never become a 10 bagger. In fact, a whole lot of stocks will eventually go straight to zero.
For me, it would definitely change my life. I’m still young. And if my current investable assets actually multiplied by 10 and I then took it out of that and put it into an index fund, I’d retire with millions upon millions.
Say I have 60k times 10. Investing 600k this early (before 30) would make me very wealthy by age 59.5 lol.
Or...I could live mortgage and debt free.
Or just use it purely as a fun account to travel.
I’d probably do a combination of all three.
Oh to dream
Dreaming is how you create the life you want.
I call non-dreamers, "cork people" because they just bob along as if they had to input to their life. There are a lot of people like that.
As I said originally, I have a 5 bagger. And in time it will double again.
George Soros says a large part of his success comes from recognizing when he was right and acting on it. I didn't realize that I had bought a "holy grail" for some time, so I'll get my 10 bags but not for a few more years.
Buying AMZN in Nov, 2010 and holding it until today would give you 10 bags. And there are many others out there. Buying AMZN in 1996 and holding it would give you 26 bags. There is opportunity out there for those with the stomach.
I bought a thousand shares of TYL back in 2003 for $7. Sold 500 shares last year at $223 as it had become too large of a % of my IRA. Still holding the last 500 shares as I still like the company. Luckily it is in my Roth, so taxes were not an issue when I sold.
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. There is opportunity out there for those with the stomach.
