My Two Millions At 28 Dot Com

If I made it through the year 2000 dot comup by 16%. Since the option strike price only used
bubble, the name of my website would be Mythe market closing price, on that single day my
Two Millions At 28, [ instead of what it is today. Ifortune changed by more than one million pre-tax
was once a multi-millionaire on paper. Thedollars for the worse. I had my early wake up call
after-tax value of my stock options if I had thethe first day of my new job. With all of my
chance of exercising them was more than twoforesight, planning, and execution, I just could not
million dollars. And guess what happened, twobeat my luck. I never lost a million dollar (of
millions became zilch, nada, after the stockpotential option income) in a single day. I cannot
market crashed. I didn’t see a dime or adescribe how fatefully frustrated I felt that day.
penny out of it.Fortunately, my option strike price was set at a
The stock market bubble was such an emotionallower level because of the delays in my option
experience for me and my colleagues at work.granting process. While most of my colleagues
Although I knew that the dramatic rise ofwere exhilarating because of the new found
NASDAQ to above 5000 in such a short time inwealth, I was more sober. I wished very much
2000 was not sustainable, there was not a daythat the party could last long enough until one
that went by without me wishing secretly that Iyear of option lockup period was up. But I had
could cash out my stock options. After all,learned my lesson on the first day of my job. It
it’s money. And it’s A LOT ofwas simply beyond my controls. It was my luck,
money.whether it was good or bad.
My anxiety actually began even before I startedOn the day of my company stock hitting all time
working for the dot com company. I hoped tohigh, I went home and told my wife: “hey,
begin my first day at my new company whenwe are multi-millionaires now. More than two
the stock price of my new company was lowermillions to be exact. Do you want to go out for a
so that my option strike price (which would havecelebration?” My wife was skeptical of
been the market price) could be lower. I waited,what I said, especially when I proposed to go to
and timed the market. I was almost making myMcDonald's for our celebration. In my mind, I was
new boss annoyed by not signing myself into thequite clear that this paper wealth was not real
new company after I got the job offer. After theunless I grabbed it firmly in my hands.
first sign of the market weakness, I made myBecause of my correct but stupid foresight, I did
inter-state move. Then I lived in mynot buy a single family home like some of my
friend’s house, and kept waiting still for acolleagues did. Instead, I bought a small condo on
good entry. With the high volatility of the stockmy super-low dot-com salary but with hefty
market in 2000, the stock price of my newdot-com stock options. Thinking back, being smart
company was soon 20% under the all time high. Iis not nearly useful as being lucky. Buying a big
thought after all these patience, it was finallyhouse would probably have returned much more,
paying off somewhat. On the day that I joinedand tax-free too.
my dot com company, I checked the stock priceAfter all said and done, most people at this dot
in the early morning at 7:30am PST. It dropped bycom company did not get the chance to exercise
another 5%. I told myself that this was goodtheir options. Many of my colleagues were
enough, and decided that I would start my newdepressed and felt the total void of losing
job that day.multi-millions. It was such a year 2000 of
But on my first day at the new company, I hadseemingly gaining and losing millions. It was
the lesson of luck. Although the stock priceMyTwoMillionsAt28 not meant to be. The gift of
dropped by 5% in the early morning, it rallied allMillions was up to God I believe. But saving dimes
the way to the close, and was eventually closedand pennies is up to me.