[geeks] NOW at GEEKS! Re: [rescue] SGI stock @ 53 cents

[Ken Hansen]

In for $5K at $14/share, out at $80/share, paid a lot of taxes, but made enough to cover school & pay "the man".

My total initial investment in Red Hat lasted about one week, IIRC.

RHBeta team members were able to get 400 shares - with proper timing, you could have sold them for over $100/share profit (maybe $200, it pains me to think about it)...

A bit short of "millionaire" status, IMHO...

Ken

-----Original Message-----
From: Peter L. Wargo [mailto:pwargo at basenji.com]
Sent: Thursday, July 12, 2001 12:52 AM
To: geeks at sunhelp.org
Subject: Re: [geeks] NOW at GEEKS! Re: [rescue] SGI stock @ 53 cents


On Wed, 11 Jul 2001, Bill Bradford wrote:

> if I'd had $5K to spend on stocks to "get in" on RedHat with the offering
> I got as a RH beta team member, I'd be a millionaire now. 8-(

Or not.  Many folks got clobbered - you have to hold onto shares for a
while to avoid taxes, and the result is unfortunate - stock tumbles and
whammo!  (I know of a few people who got nailed badly by earned income, or
somesuch, that ended up owing hundreds of thousands in taxes *after*
their stock options bombed.)

Thanks to Chandra's foresight, I avoided the whole .com thing.  Phew.

(I did, however, go buy a bunch of Sun stock while they were really low,
as a long-term investement.)

-P


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