Found at: http://www.anguillaguide.com/article/articleprint/5564/-1/140/
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Fisherman Patrick Enjoys A 333% Stock Price Gain
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Many readers will remember the “fisherman buys NASDAQ shares through the National Bank of Anguilla” story published in May 2007. In essence, the story was about Patrick’s need to save and invest for his son’s education, and there is a happy “ending” – and a happy beginning, too.
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Patrick Webster and Carol Morton of NBA
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First, Patrick chose a high-technology company based on having met the CEO here in Anguilla during a visit. Patrick deemed the company worthy of risking his hard-earned money and purchased 300 shares at ~$3.00 USD per share. Over the next few months, the stock increased to ~$6.00 per share, and Patrick envisioned that it might continue to rise but thought that it might be best to capture the original investment at some reasonable point in time. Thus, he put in an order to sell 100 shares if and when the stock reached $10.00. On Friday, December 14, 2007, 100 shares sold at $10.00 to slightly exceed his original $900 investment, while retaining 200 shares valued at ~$2,000.00.
The original cash amount is now invested into a totally safe savings deposit with the NBA, and the remaining 200 shares (and the company) will be carefully watched for the next appropriate transaction opportunity. Patrick believes that the stock still has upside potential but also knows the risks of Wall Street are such that good investment strategies require timely profit-taking to minimize risks. In essence, he plans to move to a balanced savings and investment approach, such that the education portfolio is diversified with cash or cash equivalents and long-term Blue Chip investments, as well as owning a very small percentage of higher-risk, publically traded technology companies. The NBA is providing local investors like Patrick with a much needed service by providing professional access to global securities without having to deal directly with foreign brokers and exchanges.