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Coffee Can investing
How it started ?
Robert Kirby - American Investor
Late fifties,managed portfolio for a couple
Husband invested for himself & managed wife's portfolio as well
After Death of the husband
Wife called Kirby,showed him the stock certificates
How it started ?
Robert Kirby - American Investor
Late fifties,managed portfolio for a couple
Husband invested for himself & managed wife's portfolio as well
After Death of the husband
Wife called Kirby,showed him the stock certificates
Kirby was dumbfounded
Husband piggybacked all kirby's recos
Bought $5000 stock - both his & wife's portfolio
His portfolio bought and forgot
When kirby gave a sell call promptly sold his wife's holding
His own untouched
Kirby was shocked
Many holdings,sunk to $2000
Husband piggybacked all kirby's recos
Bought $5000 stock - both his & wife's portfolio
His portfolio bought and forgot
When kirby gave a sell call promptly sold his wife's holding
His own untouched
Kirby was shocked
Many holdings,sunk to $2000
Several exceeded $100,000
1 stock was $ 800,000 - that was a company Haloid photographic later named Xerox
Lesson kirby learnt - Investors shouldnt buy stocks hoping for the next Xerox
But portfolio of good stocks left alone,with negligible costs,outperform a constant churned 1
1 stock was $ 800,000 - that was a company Haloid photographic later named Xerox
Lesson kirby learnt - Investors shouldnt buy stocks hoping for the next Xerox
But portfolio of good stocks left alone,with negligible costs,outperform a constant churned 1
