05/07/09 | Comments (0)
Image: “When your money works hard, you don't have to.”

A friend of ours told us this true story. Let’s call him “Hawkeye.”

A carpenter by trade, he has developed a keen eye for detailed work, installing cabinets and trim with skill.

He occasionally likes to dabble in the stock market. A few years ago, he lost a substantial amount of money when his broker overzealously invested in tech stocks. But Hawkeye knows that wealthy people learn from their mistakes and continue to look for reasonable investments.

A local bank where he had a savings account notified him that they were going public. He had the opportunity to buy shares at a set price prior to their opening for trading.

Recognizing opportunity, he invested $250,000 in this stock. On opening day, he watched his broker and his stock like a hawk, calling repeatedly for progress reports throughout the day.

Not being greedy, when his position increased 50% in value on the first day of trading, he instructed his broker to sell the entire position, netting him $125,000.

Being patient, but acting quickly when opportunity presents itself, is a formula for financial success.

Do you have any financial success stories you would like to share with our online community?

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