ca anyone guess what $7 million US dollars would be worth if just left in the bank reinvesting compound interest?..I
n the 70's, the $7 million would have doubled in 9 years. then in the 80's that $14 million would be worth $28 million in 5 years..prime was double digits back then, as high as 18%.
Today I live In Hawaii and the truth is that it was all due to compound reinvested interest and stock splits of a once very strong bank HBAN. Yes this was back in the eighties. Everything I hold today pays interest 3-10% and all money is reinvested and I sell covered calls. Just bought back my INTEL calls this week on the dip. Whatever stock you own make sure your portfolio is well diversified.
blf, I don't remember how I first looked at nyb , but I think you mentioned it?THOR?I bought much at small prices and the appreciation and dividends have been good. Been around for years as a lurker less as a poster.