Saturday, May 27, 2017

Which ETFs have risen the most?

Based on daily TECL closing prices from 12/18/08 to 05/26/17 the issue rose 2160 percent.

Based on daily TQQQ closing prices from 02/12/10 to 05/26/17 the issue rose 2002 percent.

Based on daily UPRO closing prices from 06/26/09 to 05/26/17 the issue rose 1333 percent.

Based on daily SVXY closing prices from 10/05/11 to 05/26/17 the issue rose 1310 percent.

Based on daily DRN closing prices from 07/17/09 to 05/26/17 the issue rose 1055 percent.

Based on daily SOXL closing prices from 03/12/10 to 05/26/17 the issue rose 858 percent.

Based on daily UDOW closing prices from 02/12/10 to 05/26/17 the issue rose 778 percent.

Based on daily UMDD closing prices from 02/12/10 to 05/26/17 the issue rose 766 percent.

Based on daily RETL closing prices from 07/15/10 to 05/26/17 the issue rose 750 percent.

Based on daily MDY closing prices from 05/15/95 to 05/26/17 the issue rose 730 percent.

Based on daily SPXL closing prices from 11/06/08 to 05/26/17 the issue rose 714 percent.

Based on daily XIV closing prices from 12/01/10 to 05/26/17 the issue rose 699 percent.

Based on daily CURE closing prices from 06/16/11 to 05/26/17 the issue rose 650 percent.

Based on daily MIDU closing prices from 01/09/09 to 05/26/17 the issue rose 609 percent.

Based on daily QLD closing prices from 06/22/06 to 05/26/17 the issue rose 575 percent.

Based on daily BIB closing prices from 04/09/10 to 05/26/17 the issue rose 519 percent.

Based on daily URTY closing prices from 02/12/10 to 05/26/17 the issue rose 497 percent.

Based on daily SPY closing prices from 02/01/93 to 05/26/17 the issue rose 450 percent.

Based on daily $EEM closing prices from 04/14/03 to 05/26/17 the issue rose 275 percent.

Based on daily $IWM closing prices from 05/30/00 to 05/26/17 the issue rose 197 percent.

Based on daily $QQQ closing prices from 03/11/99 to 05/26/17 the issue rose 175 percent.

Based on daily $GLD closing prices from 11/19/04 to 05/26/17 the issue rose 171 percent.

Read More: Which ETFs have risen the most...

Read More: Which stocks have risen the most...

Read More: Defending Leverage

Sunday, May 21, 2017

What happens to stocks after an all time high?

Based on daily AMZN closing prices from 07/07/97 to 05/25/17 the issue made all time highs 229 times.  The issue continued to rally on the following day 117 times.  The largest following rally occurred on 11/23/98 when the issue closed higher by 21 percent.  The largest following correction occurred on 09/15/97 when the issue closed lower by -16 percent.

Based on daily BBY closing prices from 10/20/92 to 04/10/06 the issue made all time highs 172 times.  The issue continued to rally on the following day 92 times.  The largest following rally occurred on 01/06/99 when the issue closed higher by 11 percent.  The largest following correction occurred on 12/01/94 when the issue closed lower by -26 percent.

Based on daily BLK closing prices from 10/05/99 to 12/21/16 the issue made all time highs 206 times.  The issue continued to rally on the following day 95 times.  The largest following rally occurred on 02/29/00 when the issue closed higher by 9 percent.  The largest following correction occurred on 09/22/08 when the issue closed lower by -10 percent.

Based on daily CRM closing prices from 10/04/04 to 05/22/17 the issue made all time highs 186 times.  The issue continued to rally on the following day 79 times.  The largest following rally occurred on 01/06/06 when the issue closed higher by 11 percent.  The largest following correction occurred on 06/04/10 when the issue closed lower by -6 percent.

Based on daily GOOGL closing prices from 08/23/04 to 05/25/17 the issue made all time highs 221 times.  The issue continued to rally on the following day 118 times.  The largest following rally occurred on 10/25/04 when the issue closed higher by 9 percent.  The largest following correction occurred on 11/08/07 when the issue closed lower by -5 percent.

Based on daily NFLX closing prices from 05/28/02 to 05/16/17 the issue made all time highs 211 times.  The issue continued to rally on the following day 91 times.  The largest following rally occurred on 08/27/03 when the issue closed higher by 9 percent.  The largest following correction occurred on 10/22/13 when the issue closed lower by -9 percent.

Based on daily NOC closing prices from 12/05/91 to 05/23/17 the issue made all time highs 373 times.  The issue continued to rally on the following day 179 times.  The largest following rally occurred on 12/26/91 when the issue closed higher by 8 percent.  The largest following correction occurred on 02/25/92 when the issue closed lower by -6 percent.

Based on daily PFPT closing prices from 04/24/12 to 05/17/17 the issue made all time highs 126 times.  The issue continued to rally on the following day 65 times.  The largest following rally occurred on 04/26/13 when the issue closed higher by 5 percent.  The largest following correction occurred on 04/13/15 when the issue closed lower by -7 percent.

Based on daily PM closing prices from 03/26/08 to 05/24/17 the issue made all time highs 145 times.  The issue continued to rally on the following day 73 times.  The largest following rally occurred on 11/30/11 when the issue closed higher by 2 percent.  The largest following correction occurred on 04/15/13 when the issue closed lower by -2 percent.

Based on daily QQQ closing prices from 03/16/99 to 05/25/17 the issue made all time highs 118 times.  The issue continued to rally on the following day 67 times.  The largest following rally occurred on 12/21/99 when the issue closed higher by 4 percent.  The largest following correction occurred on 01/04/00 when the issue closed lower by -7 percent.

Based on daily RCL closing prices from 04/30/93 to 05/01/17 the issue made all time highs 184 times.  The issue continued to rally on the following day 75 times.  The largest following rally occurred on 07/28/93 when the issue closed higher by 8 percent.  The largest following correction occurred on 10/27/97 when the issue closed lower by -5 percent.

Based on daily SPY closing prices from 02/02/93 to 05/25/17 the issue made all time highs 441 times.  The issue continued to rally on the following day 202 times.  The largest following rally occurred on 06/12/97 when the issue closed higher by 2 percent.  The largest following correction occurred on 01/04/00 when the issue closed lower by -4 percent.

Based on daily UAL closing prices from 01/30/06 to 05/25/17 the issue made all time highs 42 times.  The issue continued to rally on the following day 19 times.  The largest following rally occurred on 01/22/15 when the issue closed higher by 5 percent.  The largest following correction occurred on 11/27/06 when the issue closed lower by -6 percent.

Based on daily UNH closing prices from 12/04/91 to 05/02/17 the issue made all time highs 421 times.  The issue continued to rally on the following day 184 times.  The largest following rally occurred on 10/02/00 when the issue closed higher by 7 percent.  The largest following correction occurred on 01/16/92 when the issue closed lower by -6 percent.

Read More: What happens the day after an all time high...

Read More: What happens the week after an all time high...

Read More: What happens a month after an all time high...

Read More: What happens a year after an all time high...

Wednesday, May 17, 2017

What happens to stocks after a selloff?

Based on daily Nasdaq Index $NDX ($QQQ) closing prices from 05/09/72 to 09/12/16 the issue fell more than two percent 550 times.  The issue continued to fall on the following day 256 times.  The largest following rally occurred on 01/03/01 when the issue closed higher by 14 percent.  The largest following correction occurred on 10/19/87 when the issue closed lower by -11 percent.

Based on daily Bank of America $BAC closing prices from 12/15/82 to 03/22/17 the issue fell more than five percent 163 times.  The issue continued to fall on the following day 85 times.  The largest following rally occurred on 01/21/09 when the issue closed higher by 31 percent.  The largest following correction occurred on 01/20/09 when the issue closed lower by -29 percent.

Based on daily Electronic Arts $EA closing prices from 09/25/89 to 02/08/16 the issue fell more than five percent 283 times.  The issue continued to fall on the following day 148 times.  The largest following rally occurred on 10/12/90 when the issue closed higher by 22 percent.  The largest following correction occurred on 06/07/93 when the issue closed lower by -14 percent.

Based on daily Goldman Sachs $GS closing prices from 06/01/99 to 06/27/16 the issue fell more than five percent 84 times.  The issue continued to fall on the following day 37 times.  The largest following rally occurred on 10/13/08 when the issue closed higher by 25 percent.  The largest following correction occurred on 10/10/08 when the issue closed lower by -12 percent.

Based on daily Micron $MU closing prices from 06/15/89 to 12/02/16 the issue fell more than five percent 471 times.  The issue continued to fall on the following day 226 times.  The largest following rally occurred on 04/17/00 when the issue closed higher by 19 percent.  The largest following correction occurred on 11/20/08 when the issue closed lower by -18 percent.

Based on daily Nvidia $NVDA closing prices from 01/26/99 to 04/05/17 the issue fell more than five percent 283 times.  The issue continued to fall on the following day 142 times.  The largest following rally occurred on 01/03/01 when the issue closed higher by 31 percent.  The largest following correction occurred on 11/08/02 when the issue closed lower by -22 percent.

Based on daily Charles Schwab $SCHW closing prices from 10/14/87 to 02/03/17 the issue fell more than five percent 259 times.  The issue continued to fall on the following day 129 times.  The largest following rally occurred on 01/03/01 when the issue closed higher by 26 percent.  The largest following correction occurred on 08/20/75 when the issue closed lower by -13 percent.

Based on daily Twitter $TWTR closing prices from 11/18/13 to 02/13/17 the issue fell more than five percent 45 times.  The issue continued to fall on the following day 23 times.  The largest following rally occurred on 02/07/14 when the issue closed higher by 9 percent.  The largest following correction occurred on 04/29/15 when the issue closed lower by -9 percent.

Read More: What happens the day after a selloff...

Read More: What happens the week after a selloff...

Friday, May 12, 2017

Which stocks have risen the most?

The S&P Index $SPX ($SPY) has risen 14022 percent from 01/5/50 to 05/12/17.  Here are some other stocks that have risen a lot over time.

Based on daily Home Depot $HD closing prices from 09/24/81 to 05/12/17 the issue rose 523046 percent.

Based on daily Walmart $WMT closing prices from 08/29/72 to 05/12/17 the issue rose 118262 percent.

Based on daily Disney $DIS closing prices from 01/04/62 to 05/12/17 the issue rose 116435 percent.

Based on daily Microsoft $MSFT closing prices from 03/17/86 to 05/12/17 the issue rose 67808 percent.

Based on daily Amazon $AMZN closing prices from 05/19/97 to 05/12/17 the issue rose 54509 percent.

Based on daily Apple $AAPL closing prices from 12/16/80 to 05/12/17 the issue rose 34350 percent.

Based on daily Adobe $ADBE closing prices from 08/15/86 to 05/12/17 the issue rose 61358 percent.

Based on daily Amgen $AMGN closing prices from 06/21/83 to 05/12/17 the issue rose 52938 percent.

Based on daily Comcast $CMCSA closing prices from 03/19/80 to 05/12/17 the issue rose 26540 percent.

Read More: Which stocks have risen the most...

Read More: Which ETFs have risen the most...

Wednesday, May 10, 2017

What happens 60 days after an IPO?

After tonight's earnings release Snap $SNAP has lost more than 25% since its IPO earlier this year...find out what happened to some of the veterans of the S&P $SPX ($SPY) their first sixty days out of the gate.

Based on daily Apple $AAPL closing prices from 12/15/80 to 03/11/81 the issue returned -21 percent.


Based on daily Google $GOOGL closing prices from 08/20/04 to 11/12/04 the issue returned 80 percent.


Based on daily Microsoft $MSFT closing prices from 03/14/86 to 06/09/86 the issue returned 17 percent.


Based on daily Amazon $AMZN closing prices from 05/16/97 to 08/11/97 the issue returned 18 percent.


Based on daily Facebook $FB closing prices from 05/21/12 to 08/14/12 the issue returned -44 percent.


Based on daily Exxon $XOM closing prices from 01/05/70 to 03/31/70 the issue returned -8 percent.

Read More: What happens 30 days after an IPO...

Read More: What happens 60 days after an IPO...

Friday, May 5, 2017

Top Performing Leveraged ETFs

If you think that you know everything there is to know about leveraged ETFs, think again...

Based on daily $TQQQ closing prices from 2/12/10 to 5/5/17 the issue rose 1851 percent.

Based on daily $UPRO closing prices from 6/26/09 to 5/5/17 the issue rose 1302 percent.

Based on daily $SVXY closing prices from 10/5/11 to 5/5/17 the issue rose 1279 percent.

Based on daily $RETL closing prices from 7/15/10 to 5/5/17 the issue rose 925 percent.

Based on daily $SPXL closing prices from 11/6/08 to 5/5/17 the issue rose 696 percent.

Based on daily $UDOW closing prices from 2/12/10 to 5/5/17 the issue rose 764 percent.

Based on daily $XIV closing prices from 12/1/10 to 5/5/17 the issue rose 680 percent.

Based on daily $CURE closing prices from 6/16/11 to 5/5/17 the issue rose 656 percent.

Based on daily $BIB closing prices from 4/9/10 to 5/5/17 the issue rose 553 percent.

Based on daily $QLD closing prices from 6/22/06 to 5/5/17 the issue rose 542 percent.

Based on daily $TNA closing prices from 11/6/08 to 5/5/17 the issue rose 334 percent.

Read More: Defending Leverage

Thursday, April 27, 2017

What happens to stocks after a rally?

Based on daily Twitter $TWTR closing prices from 12/04/13 to 04/27/17 the issue rose more than five percent 48 times.  The issue continued to rally on the following day 23 times.  The largest following rally occurred on 12/24/13 when the issue closed higher by 8 percent.  The largest following correction occurred on 10/06/16 when the issue closed lower by -20 percent.

Based on daily Under Armour $UAA closing prices from 11/30/05 to 06/30/16 the issue rose more than five percent 116 times.  The issue continued to rally on the following day 70 times.  The largest following rally occurred on 08/23/11 when the issue closed higher by 12 percent.  The largest following correction occurred on 03/24/09 when the issue closed lower by -13 percent.

Read More: What happens the day after a rally?...

Based on daily Twitter $TWTR closing prices from 12/04/13 to 12/14/16 the issue rose more than five percent 48 times.  The issue continued to rally the following week 22 times.  The largest following rally occurred on 12/11/13 when the issue closed higher by 20 percent.  The largest following correction occurred on 10/12/16 when the issue closed lower by -27 percent.

Based on daily Under Armour $UAA closing prices from 11/30/05 to 07/07/16 the issue rose more than five percent 117 times.  The issue continued to rally the following week 68 times.  The largest following rally occurred on 12/28/05 when the issue closed higher by 30 percent.  The largest following correction occurred on 01/22/08 when the issue closed lower by -31 percent.

Read More: What happens the week after a rally?...

Sunday, April 9, 2017

What happens to stocks after an economic release?

The Employment Report

Based on daily S&P $SPY closing prices from 03/15/60 to 03/13/17 the issue traded after the Employment Report reported a less than 5% unemployment rate 180 times.  The issue rallied on the following day 93 times.  The largest following rally occurred on 09/08/98 when the issue closed higher by 5 percent.  The largest following correction occurred on 03/12/01 when the issue closed lower by -4 percent.

Based on daily $GLD closing prices from 07/08/05 to 03/13/17 the issue traded after the Employment Report reported a less than 5% unemployment rate 51 times.  The issue rallied on the following day 31 times.  The largest following rally occurred on 05/05/08 when the issue closed higher by 2 percent.  The largest following correction occurred on 05/09/16 when the issue closed lower by -2 percent.

Based on daily $TLT closing prices from 07/08/05 to 03/13/17 the issue traded after the Employment Report reported a less than 5% unemployment rate 51 times.  The issue rallied on the following day 27 times.  The largest following rally occurred on 02/08/16 when the issue closed higher by 2 percent.  The largest following correction occurred on 10/05/15 when the issue closed lower by -1 percent.

Based on daily $USO closing prices from 05/05/06 to 03/13/17 the issue traded after the Employment Report reported a less than 5% unemployment rate 41 times.  The issue rallied on the following day 15 times.  The largest following rally occurred on 03/07/16 when the issue closed higher by 5 percent.  The largest following correction occurred on 12/07/15 when the issue closed lower by -6 percent.

Read More: What happens the day after the Employment Report...

GDP

Based on daily S&P $SPY closing prices between 2/20/50 and 3/01/17 the index traded after 595 positive GDP reports.  The following day the index rose by some amount 307 times.  The largest rally occurred on 11/26/08 when the index rose by 4 percent.  The largest correction occurred on 9/29/08 when the index closed lower by 9 percent.

A Rate Hike

Based on daily $SPX $SPY closing prices from 9/27/82 to 3/15/17 the index rose 44 times the day after a rate hike and fell 31 times.  The largest rally occured on 5/26/87 when the index closed higher by 2.5%.  The largest reversal occured on 8/10/88 when the index closed lower by 1.7%.



Wednesday, March 29, 2017

What happens 30 days after an IPO?

Snap $SNAP has lost about 15% since its IPO earlier this month...find out what happened to some of the big boys of the S&P $SPY their first thirty days out of the gate.

Based on daily Apple $AAPL prices from 12/15/80 to 01/27/81 the issue returned 17 percent.

Based on daily Amazon $AMZN prices from 05/16/97 to 06/27/97 the issue returned -24 percent.

Based on daily Under Armour $UAA prices from 11/21/05 to 01/04/06 the issue returned 22 percent.

Based on daily JP Morgan $JPM prices from 01/03/84 to 02/13/84 the issue returned 10 percent.

Based on daily Johnson & Johnson $JNJ prices from 01/05/70 to 02/13/70 the issue returned -8 percent.

Read More: What happens 30 days after an IPO...

Saturday, February 11, 2017

The Index ETF Beating Nvidia

You may not have noticed but there is actually a non-leveraged index ETF that has been outperforming Nvidia over the past three months.  If you've never thought about selling the Volatility Index $VIX then you may want to think again.  Since November, Velocityshares Inverse Volatility ETF $XIV is up over 60% while $NVDA is up only 30%.  I know what you're thinking...selling volatility is dangerous...and you'd be correct in that statement with a few important exceptions.

Investments are only dangerous when you over-do them

An investment in inverse volatility can be a valuable income producing component to any well balanced diversified portfolio.  Since $VIX is correlated with the emotional sentiment embedded in the market a short position will outperform the S&P 500 $SPY when sentiment is positive and underperform when sentiment is negative.  The key to being successful with this investment is keeping it a small component of your overall portfolio.  You'll also want to add to this investment when fear is overwhelming investors and subtract when greed is doing the same.

It is natural for market volatility to depreciate over time

If the best assets to buy are things that appreciate over time like stocks, bonds and real estate then shouldn't the best assets to sell be things that depreciate over time?  Think about it, why shouldn't volatility persistently decrease over time?  People continuously create, invent, and imagine new technologies that remove uncertainty in the world.  We have the resiliency and the resolve to work through difficult problems, learn from our mistakes and come out stronger on the other end.  The free market mechanism itself is designed to achieve efficient price discovery which is all about eliminating volatility and uncertainty.  Think about building a long term investment in the idea that fear and uncertainty generally subside over time.

Do the Contango

I'll be honest, whenever I read the word contango I think of the Argentinian dance and it'll always be that way, so terrible word but great concept.  Contango is usually present in commodity markets like crude oil or corn because the price you pay for some commodity has to embed all of the costs of storage which can sometimes be very steep.  This is why it is so hard to make money buying and holding crude because all those storage costs will eat your investment alive.  The financial mechanics of how your investment becomes dinner is complex but has to do with the pricing of futures contracts so any investment that holds futures will usually suffer from this decay.

Selling volatility also involves the use of futures contracts but since you are selling rather than buying, those storage costs tend to benefit you rather than hurt you.  In fact, inverse volatility is the only asset that I know of that naturally appreciates and also pays storage costs; please tell me if you know of another one!  Why should other people pay you to hold this naturally appreciating asset?  I think that it has something to do with the persistency of fear embedded in financial markets.  The nature of risk is complex and can be a double-edged sword at times so don't try anything that makes you uncomfortable.  Take some time to read more about market volatility and when you're ready start small.  Remember...as always...don't over do it, stay diversified and think long term.

Saturday, January 28, 2017

Searching for Value at Dow 20,000

With the Dow Jones Industrial Average at such a high of highs are there any investments left that are not overvalued?  Here are several ideas that I find interesting.

Emerging Markets $EEM

Emerging markets are still off of their historic highs by more than 30%.  There are various reasons for this lagging performance such as a strong dollar as well as a global glut of commodities.  As Trump takes office and Brexit begins to move forward we seem to be entering an era of anti-globalization.  On the surface these events do not bode well for emerging markets.  It takes a keen eye to see that finding a way to manufacture goods in these downtrodden countries without stepping on a political landmine could be extremely lucrative going forward.

Biotech $IBB

The Biotech sector is off of its highs by more than 30% as well largely due to political rhetoric from both Clinton and Trump.  It is natural for politicians to rail against the high costs of healthcare but the truth is that advanced healthcare has never been in higher demand.  In fact, this demand will only increase as more and more baby boomers reach retirement age.  An investment in Biotech, regardless of the political rhetoric, is as much of a no-brainer as it gets.

Energy $XLE

The Energy sector is still off of its all time highs by more than 25% mostly for the same reasons as those with Emerging Markets.  So we discovered this new technology called Fracking...why should that be a bad thing for energy companies?  The fact that the market forced this new technology into existence speaks more to the everlasting demand for more energy rather than to the end of it.  Plus the new focus of the Trump administration on manufacturing and infrastructure projects as well as his pick for secretary of state should only yield positive news for the Energy sector going forward.

Twitter $TWTR

Twitter is more than 75% off of its highs set after its IPO in 2013.  If you successfully invested in Facebook against all of the analysis that said that it would not be possible for Facebook to monetize mobile then you need to be invested in Twitter as well.  The arguments are essentially the same...how does Twitter monetize this new medium of communication that it has created?  It is becoming increasingly apparent that if Facebook is used to connect with friends then Twitter can be used to connect with enemies.  It is no wonder that companies are shy to advertise on this platform due to its contentious nature.  It will take more time for most companies to figure Twitter out, though some like Wendy's are already beginning to discover the power of satirical promotion to create messages that sound less filtered and more real.  This very feature is also what Trump has leveraged to propel himself into the White House and is currently using as a political game changer.

Monday, January 2, 2017

Invest like a Predator in 2017

My personal expectation for the S&P 500 $SPY next year is a best case scenario of 3200, a worst case of 1700 and a most likely of 2450.  I suspect that the worst case would occur if we start to see the Eurozone unravel which is unlikely but also possible.  One catalyst on the horizon is the Euro being nearly at parity with the US dollar.  This is occuring because the world is panic selling Euros but on the flipside it also provides a natural stimulus to any Euro based economy.  Another unlikely catalyst is the presence of negative interest rates.  If the Eurozone was considered an economy on the verge of collapse negative rates would not be possible as there would be no bid for those bonds.  Going forward the Euro area can and should provide very many unique and rewarding opportunities to make outsized returns as risk moves back into the global market place. 

I suspect that the best case would occur if there is a significant rise in long term rates $TLT.  Most would interpret a rise in rates as a negative but to me that just shows risk and leverage coming back into the marketplace as the demand for debt begins to increase.  I think people give the Fed way too much credit regarding their control over the destiny of rates.  In my mind, the desire to borrow money has much more control over rates than Fed policy.  What would cause an increase in the demand for debt?  I think that it is simply optimism about making money in a growing economy.  As money making opportunities arise people borrow more and more money to invest as well as to spend.  This action causes rates to rise as borrowers bid higher for ever more expensive debt which eventually would lead to a bubble.  Where could this source of demand possibly come from...Millienials, Boomers, GenXers?  This is the biggest question that will be on my mind going into 2017.

The year of 2017 is going to be favorable to those investors who behave like predators.  This means being able to be extremely patient while lying in wait for the best possible opportunities.  Waiting until a prime target is wounded is a sure way to increase your chances of success.  This means letting bad news work for you instead of against you.  Have you been noticing that over the past few years bad news only has a temporary effect on the market?  This is because the supply of buyers are beginning to overwhelm the supply of sellers.  With the dollar this high and interest rates this low...there are no more sellers...which is why you'll see the market continue to rise on bad news.

For example, Nvidia $NVDA was getting hit last week based on news from notorious short seller Andrew Left.  I agree with Left in that Nvidia has gotten way ahead of itself...so how would a predator invest in this situation?  Allow this news to wound Nvidia just enough for you to be able to catch up with it.  Practice extreme patience as well as persistence.  Ironically, the slowest ways to get rich end up being the fastest and the fastest ways end up being the slowest.

Finally, when investing in individual companies it is so important to be careful with the price that you pay.  Companies that have been around for a long time can be a lot more expensive than you think due to all of those share splits.  For example, take a look at Berkshire Hathaway A shares $BRK/A that haven't gone through any splits and are priced at over $250,000 per share!  Now how affordable are those shares?  To get a better perspective always look at total market capitalization and ask yourself if it makes sense that company XYZ should be worth so many billions because that is really the price that you are buying into.  Always remember to look for great companies as well as great prices and never accept one without the other.