"In February, 2001, the trading volume was often well below 100,000 shares per day;
Well, you're sort of right Mr. re-think; in fact, back then the trading volume was often below 10,000 shares daily. The average daily volume was around 10k. My purchases (all prices pre-split) were in the $10 3/8 - $10 7/8 range with an average of about $10 5/8. The last couple of thousand were around $12. Share prices were incremented by 1/8's then and it wasn't so hard to pick up lots of a thousand shares without driving the price higher by more than 1/8-3/8. If you followed this company earlier than when I found it, you knew it was trading in the $6 range just months earlier. At the time, sellers seemed happy to part with their shares as the performance of ABP had been dismal.
As for my investment portfolio size, you don't really need to know that. PNRA has been roughly a 14 bagger since then so let's figure an example of 20k shares then would be worth close to $3 million today, for those who were held on.
Enjoy your weekend and have a nice day at work Monday. Mr. Bread
You'll pardon the difficulty of accepting such a fine tale on its face. Yes, we can both do simple math. I understood the theory. The difficulty is in the idea that someone, not an owner, would commit to such a large position, through both ups and downs. But if that's your story, you stick to it.
Thanks for the well wishes for a nice day in my consulting work. My boss also thanks you. That would be me. You see, I have already retired from one situation. Real estate has been very rewarding. I'll leave the late comers to the party, whether it is real estate or equities, to deal with the next downturn. If you have done any research on the economy, you would note, as I have, that among other issues and on top of the problems, the small investor is coming back in droves. That is never a good sign for the future.
You have a nice day on Monday, as well. I'll look forward to your next tale. We can add this one to all the others who claim perfection in their investments, well after the fact. This one, complete with a "boat load" of shares left after all those expenses and the funding your retirement; not to mention that you obviously made no other missteps which could have reduced your nest egg, was extremely entertaining. No thanks, I'm not interested in the Brooklyn Bridge. I sold it last week to someone else.
His tale was no good since he didn't give the number of shares that he bought to generate an aura of authenticity. I have revealed to this lucky board the number of shares that I bought way back then. You are all lucky to have such a fine spinner (me) of tales posting here.
"If you have done any research on the economy, you would note, as I have, that among other issues and on top of the problems, the small investor is coming back in droves. That is never a good sign for the future."
I HAVE noticed. And it does cause great concern. You smashed the nail on the head with this one. I like your insight. It causes me GREAT concern. Dang those little guys. gb