I found a nice surprise in my son’s Coverdell Education Savings Account tonight. I received the cash for the 85 shares of Lynch Interactive I purchased back on October 10, 2005.
As you might remember, this reverse split transaction was approved on November 16, 2005. This was a very typical going private transaction. It took a little less than three weeks for them to send out the cash after the transaction was approved. I only wish my other going private transactions would go so quickly.
Let take a quick look at my returns. In less than two months, I earned $353.04 in profit for a total gain of 16%. If I annualize that return, I calculate that my Lynch Interactive investment produced a 185% APY. Not bad given my EmigrantDirect account earns 4.0% APY.
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