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By George Rowand
Times-Democrat Staff Writer
Sost 10- and 12-year-old boys are
interested in video games,
sports and playing outside.
Matthew and Michael
Coffin are interested in spotting trends that can be turned into money. They’re capitalists in miniature, budding Warren Buffets, who intend to pay for their future college education and a whole lot more by the decisions they make right now.
The Coffin boys are sons of Brian Coffin, first vice president of Scott and Stringfellow brokerage firm in Warrenton. The elder Coffin got the boys started with some seed capital a few years ago, and that has grown to around $15,000 now for each boy.
Buy what you like
“Michael loved ‘Tby Story’ and wanted to invest in that,” Coffin remembered. “Of course, you can’t buy shares in a movie, but I said, “You can buy Pixar, the company that made the movie.’
Matthew said, ‘Buy 100 shares,’ and Michael said, ‘Me, too.’ They bought it at about $19 a share it went to about $28 in three weeks. I was telling them that my charts showed that it should go to about $32, but Matthew said, ‘Dad, aren’t you supposed to buy low and sell high?’
“So they sold their shares, making about $700 in three weeks time, and the stock fell to about $20 a share right after they sold. So much for Dad’s charts,” Coffin said with a laugh.
The next thing that the boys spotted was Lego, but shares in that company are not sold publicly. Recently they have taken a fancy to Add 1, a company that makes baggy satin basketball shorts.
Now the boys are looking to invest in the company that makes Jico pants, jeans with really wide bottoms. They’ve also taken a flyer or two with stocks like McDonalds and Coke.
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