Since 2003, Microsoft has paid dividends regularly, which has helped the pie grow
Photo: Zataka
The former White House communications director just wanted to open a small retirement account for his son. Because he forgot about it, the money increased 240 times, and that was just by luck, because if the manager had remembered, a lot of money would have gone.
Anthony Scaramucci is known today mainly as the White House communications director who was fired by President Donald Trump just ten days into office. But Scaramucci is also an experienced manager Hedge funds -And the father.
In 1992, the American had the idea of opening an account for his son. He linked Microsoft shares worth $1,200 to this account. The bank was directed to reinvest all profits from these shares immediately. This is very strange, because Microsoft, at the time, had not yet paid its dividend.
Out of sight, out of mind – and straight into the reckoning
Nowadays, a smartphone can keep anyone updated about their investments. But 1992 was a completely different time. Scaramucci’s life went on: changing houses, changing addresses, bureaucracy everywhere… until, at some point, he simply forgot about the investment – and the bank lost track of the client.
Only “26 or 27 years later” did Scaramucci stumble upon the account documents by chance. He and his son were shocked to see how much the value had grown over the years:
“I think at first I announced the value had increased by $88,000, but my son said…
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