+- Dividend Growth Forum (http://DividendGrowthForum.com)
+-- Forum: Dividend Growth Investing (http://DividendGrowthForum.com/forumdisplay.php?fid=15)
+--- Forum: My Portfolio (http://DividendGrowthForum.com/forumdisplay.php?fid=14)
+--- Thread: Best investment I ever made - Hands down (/showthread.php?tid=2158)
Best investment I ever made - Hands down - Scooterd - 01-23-2022
In the late 80's, A company I was employed with landed a huge contract. Our technical department (along with the sales team) was responsible for closing a multi-year deal and both departments were given significant cash awards along with some additional paid resort vacations (for key players, mostly management and sales leads) .
While other worker bees like myself on the tech team who received cash awards in our department spent their monies on trips, new cars and the like (one person even in-ground swimming pool), I purchased 2 BRK.A shares. They all thought I was nuts. I remember one guy saying com'on man live it up a little, there will be more awards next year.
Well the next year rolled around no more cash awards came our technical departments way. The business started struggling by mid 90's, as management was taking out more $$ than putting in (Private lease jets to business meetings, Huge Management bonuses, . financial engineering monkey business to achieve their management award incentives. Eventually by the late 90's the contracts all but dried up and I moved on to greener pastures.
I still invest to this day in Berkshire when the market provides opportunities (albeit through their B shares). However I will never part with those 2 class A shares. I have no plans ever convert them into B shares. My plan is to leave one share to each nephew when I am no longer here.
- Scoot
RE: Best investment I ever made - Hands down - EricL - 01-24-2022
(01-23-2022, 12:18 PM)Scooterd Wrote: In the late 80's, A company I was employed with landed a huge contract. Our technical department (along with the sales team) was responsible for closing a multi-year deal and both departments were given significant cash awards along with some additional paid resort vacations (for key players, mostly management and sales leads) .
While other worker bees like myself on the tech team who received cash awards in our department spent their monies on trips, new cars and the like (one person even in-ground swimming pool), I purchased 2 BRK.A shares. They all thought I was nuts. I remember one guy saying com'on man live it up a little, there will be more awards next year.
Well the next year rolled around no more cash awards came our technical departments way. The business started struggling by mid 90's, as management was taking out more $$ than putting in (Private lease jets to business meetings, Huge Management bonuses, . financial engineering monkey business to achieve their management award incentives. Eventually by the late 90's the contracts all but dried up and I moved on to greener pastures.
I still invest to this day in Berkshire when the market provides opportunities (albeit through their B shares). However I will never part with those 2 class A shares. I have no plans ever convert them into B shares. My plan is to leave one share to each nephew when I am no longer here.
- Scoot
Awesome story Scoot, that's one heck of an investment!
RE: Best investment I ever made - Hands down - fenders53 - 01-24-2022
Mind if I ask what the shares were worth when you received them? In any event it was a nice bonus. When did you stop working for the cartel?
RE: Best investment I ever made - Hands down - Scooterd - 01-24-2022
(01-24-2022, 10:27 AM)fenders53 Wrote: Mind if I ask what the shares were worth when you received them? In any event it was a nice bonus. When did you stop working for the cartel?
My cash award for being part of the tech team was slightly over than 7,300.00. I paid 3,586.00 per share on purchase date 4/07/1988. Total 7,182.00 (including commission and transaction fee). That was HUGE monies for me in '88, as I was earning a little over 38,000.00 per year back then. My Pontiac 6000 in 87/88 cost about 11K.
RE: Best investment I ever made - Hands down - fenders53 - 01-24-2022
(01-24-2022, 12:01 PM)Scooterd Wrote:Yeah that was a big bonus for that wage. And jobs were double tough in the 1980's. If was probably 1995 before I made that wage, and then the situation rapidly improved.(01-24-2022, 10:27 AM)fenders53 Wrote: Mind if I ask what the shares were worth when you received them? In any event it was a nice bonus. When did you stop working for the cartel?
My cash award for being part of the tech team was slightly over than 7,300.00. I paid 3,586.00 per share on purchase date 4/07/1988. Total 7,182.00 (including commission and transaction fee). That was HUGE monies for me in '88, as I was earning a little over 38,000.00 per year back then. My Pontiac 6000 in 87/88 cost about 11K.