There is a list of about 300 companies in the world that, if you bought even a token amount of the company’s stock a few decades ago, you would have created a silly high amount of total cumulative wealth.
Walgreens is one such example. Shares of the Illinois-founded drugstore have compounded at 18.7% over the past thirty years, turning even a trifling $2,500 investment into over $1 million in personal net worth.
It’s not like that would have been an inaccessible amount of money to have on hand. In 1988, the average Famous-Barr credit card balance after the Christmas season was $1,232. For a member of the middle class, the amount necessary to buy a small chunk of stock in 1988 was only the equivalent to two or so Christmases worth of spending. If someone had the capability to put $2,500 or so in knickknacks on the Famous Barr credit … Read the rest of this article!