What Does 99¢ Get You?

One McDonalds hamburger or one share of Citigroup (which just .99/share today)!

The largest shareholder in Citigroup from last November:

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12 thoughts on “What Does 99¢ Get You?

  1. OR– you could spend $3.25 and get yourself a “Kiddie Meal”, or one share of Bank of America.

  2. Nice memory on the Prince! So either he had no clue that day or was lying through his teeth?

  3. Wow. To watch that again…is this the most inept billionaire ever? Yes, luck plays a role.

  4. Probably all of the above, no clue, lying, and a whole lot of wishful thinking. I remember reading an article about him during the dot-com boom about how he was teaching his son to invest by “buying the dips”.

  5. Dear Ken,

    I am not the “Mark” discussed in previous posts. Thank you Mr. Covel. . . ;-}. I am the anti-Mark, “Marco Polo”, a trend follower, trader and extreme critic of a buy and hope investing. I am a fan of MC and trend following. As for the Prince’s folly regarding his Citigroup investment? I believe this quote is on the money: “Banks are an almost irresistible attraction for that element of our society which seeks unearned money.”
    J. Edgar Hoover (American director of the F.B.I. (1924-1972).

    BTW, I did buy NDN today.

    Marco

  6. In the parlance of a poker player, the Prince’s worry bead manipulation is a true “tell”. Perhaps Citi’s shares can buy shelf space at 99C ONLY STORES. Let’s hope they do not end up in the local Pennysaver flyer.

    Marco

  7. Michael, not enept come on he has to be a salesman! Do you really think he is going to get on there and say yes Citi is bankrupt etc? And besides Mcdonalds raised the price of its 99c menu, now 1 double cheeseburger cost 1.19!!!! Dude no more 99C, you didn’t get the memo?

  8. Andrew,

    Tonight, an ounce of Gold buys 785 double cheeseburgers at $1.19, as of 11pm pst. How many double cheeseburgers did an ounce of Gold buy in 1980? I suspect over 1200. I need to do my research. Perhaps I need to substitute the Big Mac, as I believe the double CB was not a MacDonalds offering in 1980. The Big Mac has two patties, and lettuce, special sauce, pickles, etc. and(a favorite on my bi-annual visit to MickeyD’S.) Research done, in 1980 the Big Mac was $.99, a double cheeseburger with value added trimings for $.99, and extra bread, sesame seeds. Here is the proof: Jan 1980 gold hit $850 then plumeted to $650 in a week. In 1980, an ounce of gold bought 858 Big Mac’s at the high and 656 BM’s by March, an average of 757 BM’s in Q2 1980. Today an ounce of gold buys 785 double CB’s, in early 1980 an oz. of gold bought 757 Big Mac’s(sloppy averaging). Bottom line is that gold holds and protects buying power and you get the extra’s/dividends of lettuce, pickles, etc.

    I hope this was of value.

    Peace,

    Mark

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