Saturday, December 2
Decuple
Twenty years ago I invested part of my nest egg in Corporate Realty Income Fund I, L.P. (Scroll down to see recent news.) Although at first investors got quarterly payments, for the past few years we've gotten nothing. Finally, it looks as if we'll be our principle back, plus. I actually haven't kept very careful records to determine just how bad (or good?) a deal was this, and of course one would have to calculate the interest we could have earned from investing those payouts. All I know is that about the same time I invested in a mutual fund, and with no further investments other than reinvesting the dividends, it's now worth ten times what I invested. At least I've learnt to stick to indexed mutual funds. (My favorite is Vanguard.) Too bad I can't count on what I've got in mutual funds to decuple in the next twenty years.
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4 comments:
What is Corporate Realty paying out per share?
Last I heard, they anticipated that the Fund would be liquidated sometime this year, and they expect individual share prices to be around $40.00 a share.
Do you remember what it was intially offered at $10... $$15 a share. Do you have a sense of how much you saved in taxes because of the losses... Sounds like it might have been a mediocre investment... not a horrible one.
My tax savings were neglible, as my tax bracket is low. Not to mention dealing with the dreadful tax forms associated with the investment. Aside from the forms associated with this investment, I can easily calculate my own taxes, so I have the choice of paying someone else to do my taxes, which pretty well cancels out any tax break, or doing them myself, and paying in aggravation. I still believe I'd have been much better off putting my money in mutual funds.
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