Walter Schramm
Appearances
Planet Money
Escheat show (Update)
I didn't cash that check. I wrote them that I don't accept their offer. I am sure the way Amazon is growing, their stock will be 20, 30 times the value of today in 20 years. So it's going to be a multi-million dollar package. And I'm sure... Then I'll find a lawyer who is willing to represent my children because it's worth his while.
Planet Money
Escheat show (Update)
Yeah, sure. I'm going to wait until this is worth two, three, four, five million dollars. So that's the plan.
Planet Money
Escheat show (Update)
If you believe in a company, you need to buy the stock and let it sit for 20 years. I mean, that's the philosophy of Warren Buffett. Go out and have a walk, enjoy nature, talk to your family. Don't worry about the stock market.
Planet Money
Escheat show (Update)
And finally they explained to me, there's a technical term that I don't remember, that my stock had been.
Planet Money
Escheat show (Update)
I think it's a mistake to check the stock market. You know, it makes you nervous. You don't sleep well.
Planet Money
Escheat show (Update)
So they're offering me today to give me $8,000 for a stock that is worth way over $100K. $8,000 for stock that was worth $100,000.
Planet Money
Escheat show (Update)
I said, let's set up an account with E-Trade and buy a few Amazon shares for a few thousand dollars.