6 ms·

He valued his idea at $5M before he had even sold a book and managed to convince 22 people to invest at least $50k in him. That’s quite the story, especially b

He valued his idea at $5M before he had even sold a book and managed to convince 22 people to invest at least $50k in him. That’s quite the story, especially back before he internet was a staple in all our lives. Kudos to those who held on the stock. Moral of the story, as is usual in investing, never sell.

ISL 6y ago
I still have Sun Microsystems stock certificates, purchased in ~1999. They are more valuable as curiosities or as recycled paper than as a tradeable security. You have to know when to hold 'em, know when to fold 'em, know when to walk away, know when to run.
- SilasX 6y ago
  They still did paper stock certificates in 1999?
  - ISL 6y ago
    They were a gift from a relative who liked to hold physical certificates. They do give the holder a feeling that a small chunk of the company is truly theirs. I didn't redeem the (very low-value) shares because I didn't want a tiny slice of Oracle or a few dollars; I'd rather have an actual chunk of Sun. Looks like it became very difficult to get physical certificates beginning in the late 2000s (see right sidebar): https://www.giveashare.com/stockcertificates.shtml https://www.giveashare.com/stockcertificates.shtml
    - SilasX 6y ago
      Aren't those ornamental at this point, though? Like I thought they use some other record-keeper as the source of truth on who owns the stock, rather than whether you hold a certain piece of paper (bearer shares).
      - bananapear 6y ago
        Certificates are still perfectly valid, but most stock is “dematerialised” and held at a central securities depository, like DTC - https://en.m.wikipedia.org/wiki/Depository_Trust_Company https://en.m.wikipedia.org/wiki/Depository_Trust_Company This allows transfer by “book entry” rather than mailing the physical documents - much like an electronic bank transfer.
      - Scoundreller 6y ago
        Stock certificates usually have your name on them, and then there's a process to sign them over to someone. The corporation has a register of its shareholders, and in this case it's you. At least in Canada, once you get a physical share, you can then buy shares directly from many companies by writing them a cheque without any commissions. Less important as trades here now average around $10, but that's fairly recent for many. I still have a share of a Canadian bank that spiked in value by the time I got my certificate sorted out. They still mail me a cheque every 3 months for <$1 in dividends.
    - JumpCrisscross 6y ago
      > it became very difficult to get physical certificates beginning in the late 2000s For publicly traded shares, yes. In private equity, we still get to play “who tore the stock certificate.”
    - anm89 6y ago
      I think it was more of a novelty thing for when you gifted someone else stock but yes, they did.
- zorpner 6y ago
  ...and the best that you can hope for is to die in your sleep.
  - santoshalper 6y ago
    I do every day.
    - ta17711771 6y ago
      Jesus.

ISL 6y ago

I still have Sun Microsystems stock certificates, purchased in ~1999. They are more valuable as curiosities or as recycled paper than as a tradeable security. You have to know when to hold 'em, know when to fold 'em, know when to walk away, know when to run.

SilasX 6y ago
They still did paper stock certificates in 1999?
- ISL 6y ago
  They were a gift from a relative who liked to hold physical certificates. They do give the holder a feeling that a small chunk of the company is truly theirs. I didn't redeem the (very low-value) shares because I didn't want a tiny slice of Oracle or a few dollars; I'd rather have an actual chunk of Sun. Looks like it became very difficult to get physical certificates beginning in the late 2000s (see right sidebar): https://www.giveashare.com/stockcertificates.shtml https://www.giveashare.com/stockcertificates.shtml
  - SilasX 6y ago
    Aren't those ornamental at this point, though? Like I thought they use some other record-keeper as the source of truth on who owns the stock, rather than whether you hold a certain piece of paper (bearer shares).
    - bananapear 6y ago
      Certificates are still perfectly valid, but most stock is “dematerialised” and held at a central securities depository, like DTC - https://en.m.wikipedia.org/wiki/Depository_Trust_Company https://en.m.wikipedia.org/wiki/Depository_Trust_Company This allows transfer by “book entry” rather than mailing the physical documents - much like an electronic bank transfer.
    - Scoundreller 6y ago
      Stock certificates usually have your name on them, and then there's a process to sign them over to someone. The corporation has a register of its shareholders, and in this case it's you. At least in Canada, once you get a physical share, you can then buy shares directly from many companies by writing them a cheque without any commissions. Less important as trades here now average around $10, but that's fairly recent for many. I still have a share of a Canadian bank that spiked in value by the time I got my certificate sorted out. They still mail me a cheque every 3 months for <$1 in dividends.
  - JumpCrisscross 6y ago
    > it became very difficult to get physical certificates beginning in the late 2000s For publicly traded shares, yes. In private equity, we still get to play “who tore the stock certificate.”
  - anm89 6y ago
    I think it was more of a novelty thing for when you gifted someone else stock but yes, they did.
zorpner 6y ago
...and the best that you can hope for is to die in your sleep.
- santoshalper 6y ago
  I do every day.
  - ta17711771 6y ago
    Jesus.