Savings Experiment: Snow Removal
The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Moving toward the light at the end of the bear-market tunnel, our hypothetical investor begins 2003 with more than $7.2 million to invest in what will grow to become that year's top-performing equity, Akamai Technologies (NASDAQ: AKAM), an internet hosting concern founded in 1998. Shortly after a well-received initial public offering in late 1999, AKAM shares took quite a beating, falling from a post-IPO high of $345.50 to rock bottom in October 2002, when the stock was trading at 56 cents per share. By January 2, 2003, AKAM had worked its way up to $1.80. With the funds in our portfolio, 4,007,600 shares were purchased. A fall rally helped take the shares to $10.76, bringing them high enough to close at the top spot, with a gain of 498%. The portfolio ended 2003 with a value of $43,270,538. Was a billion as far off as it seemed? We were a long way from our original $100, but still far off the mark from the threshold separating us from the Oprahs and Warrens of the world.
Next: Step 8: Sears Holdings (SHLD), 2004
Beth Gaston Moon is an analyst at Schaeffer's Investment Research.
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