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Msg  893 of 900  at  7/5/2022 5:58:20 PM  by

PinewoodsBear

The following message was updated on 7/5/2022 6:12:10 PM.

 In response to msg 892 by  E_K_S
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Re: BGS News

I use to own stock in the California Packing Company in the 1960's . They decided to get a better recognition by changing their name to their best known brand...Del Monte Foods. At the time I thought they were trading at too low a price. Their assets and cash flow should have a higher price. Del Monte also was known for buying up smaller companies in their industrial sector.

My stock broker... who really was a very good friend also... made fun of me buying a "little old lady safe stock". I kept buying anyway. About six months later a very large company called General Foods bought Del Monte out and I did very well with the trade. My broker stopped making fun of my old lady stocks. GF had a very wide range of different products not much related except they were all sold in the grocery stores across the USA, Canada and Mexico. I felt the merger was a good one and held onto the stock. Philip Morris thought so also and once again I got another prime purchase . I sold only because I did not approve to cigarette . Some of my family died early in life. Their own fault of booze and cigarettes helped along by being overseas in the WORLD WAR II . Phillip Morris did not want all of General Foods so they sold off parts to various other companies and Del Monte was one of them. Then Del Monte was spilt in two with the Fresh Foods in one and the other in the can food. I have not really followed much about the company anymore . I did not have much time since I was starting up a new company in real estate on the west coast in the middle of a buying binge caused by people coming in from other states. By pure luck I decided to stop buying and selling real estate and returned to the stock market but I did hold assets in being a landlord renting in the Bay Area so I missed the crash. I was lucky also to feel that the California government was making it hard to do business with so many rules, laws and taxes . By chance I sold everything and moved to Texas which was like going to business paradise . My money from selling assets in California bought twice or three times the amount of assets. Not being smart ... just lucky and a gut feeling.

I might add that all of the above was a lot of hard physical and mental work. That being said, if you have the right five or six events that come together that create the binge and bubble you can improve quickly your wealth building up... but ALL bubbles do pop without much notice...in stock markets and land development . Pure luck that I got in and out of the bubbles.

***PinewoodsBear***



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Msg # Subject Author Recs Date Posted
894 Re: building assets E_K_S 1 7/6/2022 10:38:26 AM




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