Isaac received his first copy of Fortune Magazine yesterday and devoured most of it in the first 24 hours. He subscribed with his own money, sending in the $10 for the discount offer. You may have heard me mention his interest in Fortune in the Rush essay from some months back.
So, his daily reading consists of the Wall Street Journal, his school work and now Fortune.
He’s putting his new information to good use. At the beginning of the year Grandpa Bob suggested he invest an imaginary 100K in the stock market and see where things went.
Isaac took him up on the idea and researched about a dozen stocks choosing farm equipment manufacturers, coal and oil companies, auto makers, plus a wild card, Amazon.com
The other day he shared that a number of them had earned money. The coal company had increased its stock price by 50%. He might be good at the stock market. We’re good at the market too, if you can consider being good at losing money an admirable skill. We may let him have a little of our money to invest next time.
This morning he said to me over breakfast, “Dad, you know I think these magazines are targeting rich people. There was an ad for a Mazerati sports car.”
“Yes, son, rich people, that’s right.”
At this rate, it won’t be long before he’s in the market for his own Mazerati.