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Joe Duffy's Diary : January 2, 2002
Summary of how Joe Duffy played the market:
As mentioned in my December 31st diary entry, since
I owned 1,000 shares of ERELS at the finish of the 2001 PGA Season Market, the
GI Bank paid me $29,000 for the 1,000 shares. I gained $14,000 ( $29,000 - $15,000
= $14,000 ) on these shares since I paid $15,000 for the 1,000 shares of ERELS
on March 24th. In addition, I made $30,000 ( $45,000 - $15,000 = $30,000 ) from
the 1,000 shares I sold in June.
My net asset value at the end of the market is $544,000, as I had started with
$500,000 when the 2001 PGA Season Market opened. This is a Return on Investment
(ROI) of 1.25%. I don't think this will be winning any prizes. And it doesn't.
I rank 5,345 out of 9,453 active investors. Looks like there were a lot more
investors which joined the GI market after I opened an account in March. And
a lot of investors who know how to invest in professional golfers better than
I.
The year comes to a rest, but I learned more about how to invest on the GI
markets to do a better job next year. And so it goes.
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