Topical Guide 219
Mark Dorset
Investing: “Getting in on the Ground Floor”
To my surprise, it wasn’t Mr. Griswold who came to the door; it was Porky White.
“Hi, Porky,” I said. “How come you’re here?”
“I’m the night janitor now,” he said. “I talked Grizzly into hiring me so that he could sleep. He pays me half of what he gets paid. I’ve got to get some money together to open a restaurant.”
“I heard about that,” I said.
“Interested in investing?” he asked.
“Well,” I said, “I—”
“That’s okay, Peter,” said Porky. “I was only kidding.”
“But I’d like to invest,” I said. “I’ve never invested in anything before.”
“Thanks, Peter,” said Porky, “but, really, I was only kidding.” He paused. “You don’t really have any money to invest, do you?” he asked.
“I got a savings bond for my birthday,” I said. “Twenty-five dollars. Would that be enough?”
“It’s a deal,” said Porky. He held out his hand, and I shook it. “You’re the first official investor.”
“The first?” I said. “Wow.”Little Follies, “The Young Tars”
I wonder how successful Peter’s investment was? If the growth of Kap’n Klam matched the growth of the Dow Jones Industrial Average, and Peter made his $25 investment in 1954, then, according to financial-calculators.com, his investment would have been worth $2,246 in 2021—in 2021 dollars. In 1954 dollars it would have been worth about $199. However, if the growth of Kap’n Klam matched the growth of the Templeton Growth Fund, Peter’s $25 would have grown into $65,842.07—in 2021 dollars. In 1954 dollars it would have been worth about $6,537. (You might want to check my math.)
https://financial-calculators.com/historical-investment-calculator
https://www.calculator.net/investment-calculator.html
https://money.usnews.com/funds/mutual-funds/world-large-stock-value/templeton-growth-fund/teplx
https://www.in2013dollars.com/us/inflation/1954?endYear=2021&amount=6537
Reading at night: Square Haunting: Five Writers in London Between the Wars, by Francesca Wade.
[more to come on Tuesday, March 15, 2022]
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