Ten bagger, an investment that appreciates to 10 times its initial purchase price.
Investopedia says the term “ten bagger” was coined by legendary fund manager Peter Lynch in his book “One Up On Wall Street”. While “ten bagger” can describe any investment that appreciates or has the potential to increase ten-fold, it is usually used to describe stocks with explosive growth prospects.
I started trading stocks a little over 7 years ago. My good friends Jav Bose of 2centview.com & Sebastian Meyer, encouraged me to invest in all kinds of stocks. My first stock purchased was BlinkX on the 6th of August 2010 and I made good profit on it. Over the years I have traded on the AIM, LSE, NASDAQ, and NYSE markets and bought all kinds of stock from insurance, tech, pharmaceuticals, banking, motors, airlines, social media etc.
Trading stocks can be fun and rewarding if done right. I am no expert and regularly take advice from all areas (family, close friends, colleagues, the hundred and one so called experts online and by doing my own research, which regularly turns out to be the best route).
I have done reasonably well over the years, had a few losses, haven’t we all, but learnt from them. These days I buy stocks that give good returns in the long run, but this means getting a ten bagger investment will likely take a very long time, as one has to get in early and see a meteoric rise in the investment. It hadn’t happened until today and it didn’t just happen once, but four times!!! 😀
In a previous post titled “Cryptocurrency Ripple XRP traded at Bitstamp exchange.” I wrote how I bought my first cryptocurrency called Ripple XRP after researching them for many days. That purchase was made on the 10th of July 2017. I bought $121 worth of XRP, which cost 0.20668 cents per coin. It got me 588.83 coins. Between that day and today XRP has risen +- 1007% and at the time of writing this post my $121 investment was worth a staggering $1226.13.
It is only in the last month that XRP has had that meteoric rise (to the moon) moment I mentioned, rocketing by 50% to 70% some days. Fortunately I made quite a few purchases of XRP in the months before December and picked up most of my holdings below 20 cents. On Christmas day I decided to start the process again and bought some more for a dollar ($1). Suffice to say that investment has already returned 110%. 😀
Despite a lot of negativity in recent months …
Cryptocurrency isn’t a stock, it’s a bubble, it’s a scam, it’s a ponzi scheme, it’s a pyramid, it has no intrinsic value, you are going to lose your money Bowen, stop telling us about crypto, we are sick and tired of hearing it…
The fact is, it’s a real investment traded on a legitimate exchange against a proper company that is solving a real world problem and that is what makes this coin different to all the others. Ripple are going to help solve a problem that has been around for over 40 years and that is slow cross border payments. If you are interested in finding out more about Ripple and XRP and their 34700% rise this year, have a read at all the posts on Hodor’s XRP Blog, visit the Ripple website or check out my crypto link in the menu.
Sources: Header image created with love by a XRP investor on Funny Center.
Disclaimer: As a cryptocurrency noob I am aware that what I write on my blog might be seen as ‘giving advice’, so let me put the following message out there; Everything I have written in this post are my past and current experiences as well as observations. I am not advising you to buy Bitcoin or Ripple XRP or LiteCoin or any other coin, as I am not a financial advisor. Everything I have bought I am prepared to lose and will put it down to learning. Everything else (links, images, knowledge, advice where to look for information), you can find on the web yourself, or you can read my posts. I am LONG on all my purchases, meaning everything I have bought to date is sitting in my wallet. I have no interest in selling any of it in the short term. If you have invested in something I wrote about and lost your money because the price went up or down, then that is your problem not mine.