Sunday, February 8, 2015
My Mom's Investment: Php 50k to Php 116k in 2.6 Years
Almost 3 years ago, my Mama received a windfall. I kept bugging her to give me a part of the windfall so I could invest it for her. She wasn't convinced on that whole stock market thing back then. She said she'll invest part her money through her sister who works with Richard Cannon, an American 'investor.' She told me about the interest of the investment and all. It was clear as a day that it was a scam. Long story short, I convinced her to give me 50k, she invested 30k to Richard Cannon together with all her siblings' money, and the rest was spent fixing our leaking roof. Turns out it was a scam, almost told her "I told you so" but I am happy I get to invest part of her windfall, that it didn't disappear just like that.
I know, given her age it wasn't right to put all her money in the stock market. I was still supporting her with my monthly remittance and all, so I thought it would be okay.
Yesterday, she told me that she wants to get Php 10,000 from her investment so I calculated it. She was shocked, I was shocked too, calculated it several times even. I wish I could have captured her reaction after I told her how much her certain investment is now worth. Yah, for some, it's not much but for her, it is a lot.
Details of the Buying Transaction:
Stock: Jollibee Food Corp (JFC)
Date: August 30,2012
Price at that time: Php 98.25
Total shares bought: 500 shares
Total amount paid: Php 49,125
Yesterday, I checked how much JFC is currently worth and it is Php232 per share, so:
500 shares X 232 = Php 116,000
Man, she was happy! Thanks JFC! Well, that's why I invested her money on JFC coz she loves her Mang Inasal, which is owned by JFC. Unlimited rice kasi doon! haha.
Is there something wrong with my calculation?