Friday, July 25, 1997
Why Not GE?
by
[email protected]
In 1966, my wife and I returned from Asia with about $20,000 in our pockets. At that time, I felt that I should buy some General Electric stock, and then buy more (say, 10 shares) when I could afford it. Well, we bought a car, took vacations, beat the commodities market (marginally and only for a short time), and otherwise blew the $20,000.
I have no idea what $10,000 or $20,000 invested in GE shares in 1966 would be worth today. I believe, however, that GE is the only stock about which Merrill Lynch has never changed its opinion. I know that the 200 shares I bought a few years ago have split twice and are now still higher than the price I paid.
Well, I found The Fool a few months ago. GE isn't one of the current Foolish Four stocks, but I can't complain. I have done the research and characterized my portfolio Foolishly, and guess what? My best performers have the best Foolish ratings, and my worst have the worst. I am a believer. I am now stepping lightly through the task of converting Wise holdings into Foolish ones.
Bob Ackerman