At the start of 2017 Eastman Kodak Company shares (KODK.NY) traded at just over US$15; a year later, on the morning of 9th January 2018, they were languishing at just over US$3.
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In 1988 Warren Buffett invested $592,540,000 in Coca Cola quickly topped up to $1.02bn. Without unpicking Berkshire Hathaway’s accounts, the average price he paid, after adjusting for the numerous stock splits, was around $2.50 per share.
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Every Christmas, you add to the mountain of junk in your children’s bedrooms. Whether the kids are young enough to clamour for overpriced cartoon tie-in plastic, or old enough to consider £50 a small price to pay for the latest – only slightly different – version of a computer game, it’s unlikely to strike you as a brilliant way to spend your money.
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It really is different this time, because just like all the other times, it’s the innovators who run world businesses.
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