Joey Ramone and the wonderful world of the stock market – A tale.
Joey Ramone and the stock market:
Today I wanted to talk about one of the people who you would never believe it was a Investor/Stock Trader, Joey Ramone, who was the singer of the punk group “The Ramones” and later undertook a solo career in the same musical style.
Joey, who was one of the idols of my teens, in his last years of life was dedicated to trading in the stock market, mainly in the technology sector, in the NASDAQ to be precise, dedicating himself to the study of the stock market and even engaging in friendship with Maria Bartiromo, presenter of a stock market/economy TV program, who ended up writing a song dedicated to her.
What’s happening with Intel,
What’s happening with Amazon,
I want to know.
I watch you on TV every single day,
Those eyes make eveything OK.
I watch her every day,
I watch her every night,
She´s really outta sight.
And behind this, there is a curious story, Joey Ramone wrote e-mails to Maria asking about stocks he was looking at, and as is normal, at first she ignored him thinking that it was going to be some “weird guy” adopting Joey’s name, after the insistence of a few more emails, she replied and they became friends, as a result of which that song is born.
But we are going to focus on the investment side of Joey Ramone, and that is that he left some interesting concepts:
The best thing about the Internet revolution is that it has put young people on top of the business world, the tables have turned, like Punk, there is never a dull moment. – SmartMoney interview, year 2000.
Some investments he made before his death:
- Time Warner
- General Electric
But perhaps the most impressive in today’s terms was the purchase of Amazon shares at $ 15 in 1997, counting that they have recently traded at more than $ 2,000 each.
Not everything was successful, since he lost money in various investments such as 4Kids Entertaiment that ended in bankruptcy.
But after looking for some of his investment decisions and listening to Maria’s words about Joey, we realize that he was an avid investor, with his successes and mistakes. Someone who invested under his own criteria, even if he sought advice and who came up with what today would be interesting gems, which he never saw in life.
And for me, it is a very important stock market anecdote, with a lesson behind it, no matter your lifestyle, your image and largely your way of being. They try to sell us every day that knowledge is not needed and that you can be an investment geinious rebel from your mobile phone, while one of the leaders of the Punk movement, few things are more associated with rebellion than this, he had to study during years as the stock market works, starting in 1992 and dedicating himself full time to it from 1997 until his death in 2001, 5 years of complete study, a long journey.
It all comes down to knowledge and study, we live in a time that Joey would surely have loved, access to information and ease of investing, being able to understand what works and what doesn’t, each time with more tools for making decisions.
I am sure you would never have imagined this facet of the charismatic leader of The Ramones and this interesting lesson behind it.
Stay face, Víctor. – Follow the Edge