Our Quest to Make a Million Dollars
Our goal is to take a specific sum of money and double it a number of times
to make a $1million before tax. $10,000 doubled eight times will do it. A
$20,000 initial investment needs to be doubled seven times, a $40,000
investment six times.
We have three Portfolios in the program, one at each entry level.
Our initial Portfolio A investment was 150,000 New Zealand Oil & Gas
Options (NZOO) purchased at 7 cents. We bought a further 200,000 NZOO at
4.4 cents when the market bombed adding 200,000 options and an additional
$8,800 to our original investment to bring our initial outlay to $19,300. This
is not a portfolio for the faint hearted!
NZOO traded as high as 6.6 cents this past week before closing at 5.8 cents.
We sold 100,000 of our 350,000 at 6.2 cents as we said we would last week.
So we now have $6,200 in cash in the portfolio and 250,000 options with a
value of $14,500 cents bringing our total investment to $20,700. So we are
just keeping our nose in front.
Our Portfolio B investment was 500,000 Pancontinental shares (PCL) at 4.2
for an original stake of $21,000. PCL shares closed at 3.7 cents on Friday
making our stake now worth $18,500. We have made up some ground here
too and are now down only $2,500.
Our Portfolio C investment was 40,000 NZO head shares at $1.02. They
closed Friday at $1.26 so we have held, indeed added to our gains in this
portfolio. The value of this asset has now risen to $50,400.
Our Portfolios
Investment Portfolio A Portfolio B Portfolio C
$10,000
$20,000 $19,300 14 Jan $21,000 3 Jan*
now $20,700 Now $18,500
$40,000 $40,800 * 3 Jan
Now $50,400
$80,000
$160,000
$320,000
$640,000
$1,280,000
* Original investment.
We continue to have faith in New Zealand Oil and Gas for all the reasons
we have outlined in recent issues of the OGW. Macquarie Bank recently
initiated coverage of the stock with an “outperform” recommendation.
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