In 2001 I was “the bomb.” I mean I was the big swinging dick, the axe in the markets, the “schnitizel.” That’s what the cool kids say, right?
My god-daughter was born just two-years earlier and I was in love with her. I decided that I would do the god-fatherly thing and guarantee that her college education was totally paid for.
It would be easy because I knew them markets baby, and I could trade them like a pro. There was this hot stock called $CSCO that was having a temporary pullback. Buying it at $30.00 was friggin’ steal. Besides, I had sixteen years until my god-daughter would be going to college and by that time $CSCO would be probably at $5,734 per share.
It didn’t quite work out for me like I had planned, which I was reminded of when John Chambers, or as I like to call him “The Spectre of Death,” announced earnings yesterday that will put $CSCO back to 1998 prices.
I have a lot of ground to make up in the next six years, but I think I can do it. And now I have to focus on my own kids college education which is 12 and 15 years away respectively. But I think I have that one clocked, as I just put some money in $NFLX and $GMCR. By the time my kids are ready for college, well those stocks should be.