Individual Stocks That Went Bust

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abuss368
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Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 2:51 pm

Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Individual Stocks That Went Bust

Post by ThePrince » Sat Dec 30, 2017 2:58 pm

abuss368 wrote:
Sat Dec 30, 2017 2:51 pm
Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
No list like this would be complete without Enron.

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TomP10
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Re: Individual Stocks That Went Bust

Post by TomP10 » Sat Dec 30, 2017 2:58 pm

* Enron
* National Steel
* LTV Steel
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HenrySouthernCal
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Re: Individual Stocks That Went Bust

Post by HenrySouthernCal » Sat Dec 30, 2017 3:34 pm

Here are just some additional big names (countless small names in 2000-2008 period):
Country Wide Financial
Lucent Technology
Nortel

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Re: Individual Stocks That Went Bust

Post by jebmke » Sat Dec 30, 2017 3:38 pm

Indymac
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mhalley
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Re: Individual Stocks That Went Bust

Post by mhalley » Sat Dec 30, 2017 3:42 pm

I invested in Marvel back in the day and lost all my money. How could Spider-Man and Wolverine let me down? Instead, the Punisher killed the stock. Missed out on a killing after they restructured and started trading again. But now I am a boglehead and try to forget my past sins. The story is pretty interesting if you want to read about it.
http://www.denofgeek.com/us/books-comic ... o-billions
Last edited by mhalley on Sat Dec 30, 2017 3:51 pm, edited 2 times in total.

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Re: Individual Stocks That Went Bust

Post by cheapindexer » Sat Dec 30, 2017 3:45 pm

General Motors !

How about Kodak ?

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 4:47 pm

ThePrince wrote:
Sat Dec 30, 2017 2:58 pm
abuss368 wrote:
Sat Dec 30, 2017 2:51 pm
Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
No list like this would be complete without Enron.
I can't believe I missed that one. I believe I have it noted on my other thread!

"The Smartest Guys In The Room".
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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 4:48 pm

HenrySouthernCal wrote:
Sat Dec 30, 2017 3:34 pm
Here are just some additional big names (countless small names in 2000-2008 period):
Country Wide Financial
Lucent Technology
Nortel
I actually had Countrywide but removed it because of the Bank of America acquisition. I was unsure if the stock collapsed.

Thanks.
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Re: Individual Stocks That Went Bust

Post by nisiprius » Sat Dec 30, 2017 5:04 pm

The United States Leather Company, 1893-1952, one of the original Dow companies and one of the biggest companies in the United States. Once. They were known informally as the "Leather Combine" and were powerful due of the importance of leather belting in factories. The key to leather was hemlock trees, whose bark produced the kind of chemicals used for tanning that kind of leather. The leather needed to buy vast acreages of hemlock. (They wouldn't bother to harvest the wood, they would just cut down the trees and strip the bark). Some of their lands in Pennsylvania turned out to have natural gas and they had the mineral rights, so the lifetime of the company was extended into the early 1950s as, essentially, a natural gas company.
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Re: Individual Stocks That Went Bust

Post by nisiprius » Sat Dec 30, 2017 5:10 pm

Wang Laboratories, Compaq, Pr1me, Bendix, NCR, Amdahl. I think. Some of them might have gotten merged into companies that still exist, so the stocks might have been exchanged for stocks that have some value, though.
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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 5:13 pm

nisiprius wrote:
Sat Dec 30, 2017 5:10 pm
Wang Laboratories, Compaq, Pr1me, Bendix, NCR, Amdahl. I think. Some of them might have gotten merged into companies that still exist, so the stocks might have been exchanged for stocks that have some value, though.
Compaq merged with HP. I believe NCR went with AT&T in the 90s.
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Re: Individual Stocks That Went Bust

Post by fposte » Sat Dec 30, 2017 5:20 pm

For sheer as-it-happens drama, GTAT. Here is the thread on The Contrarian Investor starting with the trading halt.

Wakefield1
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Re: Individual Stocks That Went Bust

Post by Wakefield1 » Sat Dec 30, 2017 5:32 pm

Pennsylvania Railroad/Penn Central
Erie Lackawanna
Packard :(
Tecumseh Engines (did the part of the business that made refrigeration compressors go under also?)
Clinton Engines
Eastern Airlines
Braniff
Pan Am (took a couple others down too)

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Re: Individual Stocks That Went Bust

Post by Wakefield1 » Sat Dec 30, 2017 5:40 pm

Wasn't the Blackstone financial colossus founded by an ejected principal of Lehman Brothers?

donfairplay
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Re: Individual Stocks That Went Bust

Post by donfairplay » Sat Dec 30, 2017 5:46 pm

abuss368 wrote:
Sat Dec 30, 2017 2:51 pm
Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
Some of that list is inaccurate - the stocks didn't go bust:
AOL was spun off of AOL Time Warner (now a part of Verizon as a division of Oath).
FBR is now Arlington Asset Investments, and is currently a publicly traded stock, they spun off the FBR Capital Markets division.
Merrill Lynch got bought out by Bank of America.
Bear Stearns was bought out by JPMorgan Chase for $10 a share.

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 5:54 pm

donfairplay wrote:
Sat Dec 30, 2017 5:46 pm
abuss368 wrote:
Sat Dec 30, 2017 2:51 pm
Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
Some of that list is inaccurate - the stocks didn't go bust:
AOL was spun off of AOL Time Warner (now a part of Verizon as a division of Oath).
FBR is now Arlington Asset Investments, and is currently a publicly traded stock, they spun off the FBR Capital Markets division.
Merrill Lynch got bought out by Bank of America.
Bear Stearns was bought out by JPMorgan Chase for $10 a share.
All correct (I invited in many of them)! In terms fo bust, I am simply referring o stocks that declined, companies that went of of business, and so forth. A simple list to show the risk of investing in individual stocks.

Happy holidays!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 5:54 pm

donfairplay wrote:
Sat Dec 30, 2017 5:46 pm
abuss368 wrote:
Sat Dec 30, 2017 2:51 pm
Bogleheads -

In replaying to other threads, I found myself thinking back to many companies and thus stocks that went bust! Companies that can't miss at the time and were the "future". Here is a list I thought of thus far. Please add any stocks you can think of as many will probably bring back some memories.

Remember these companies:

* Pets.com
* America On Line
* Lehman Brothers
* Worldcom
* Global Crossing
* American Home Mortgage
* FBR
* Merrill Lynch
* Bear Sterns
* Washington Mutual
* Airline stocks
Some of that list is inaccurate - the stocks didn't go bust:
AOL was spun off of AOL Time Warner (now a part of Verizon as a division of Oath).
FBR is now Arlington Asset Investments, and is currently a publicly traded stock, they spun off the FBR Capital Markets division.
Merrill Lynch got bought out by Bank of America.
Bear Stearns was bought out by JPMorgan Chase for $10 a share.
At one time, AOL and FBR were some of my best stocks.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

Wakefield1
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Re: Individual Stocks That Went Bust

Post by Wakefield1 » Sat Dec 30, 2017 5:55 pm

I understand that Armstrong Tool's factory got closed down but did the business go out? They used to build stuff for Sears/Craftsman brand as well as their own brand
Was Armstrong Products of Huntington West Virginia (made space heaters and appliances) (factory got torn down several years ago and replaced by a food store) part of the same Armstrong as the tool company?

OkieIndexer
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Re: Individual Stocks That Went Bust

Post by OkieIndexer » Sat Dec 30, 2017 6:09 pm

Not a stock, but an early "Bitcoin" bust:

https://en.wikipedia.org/wiki/Flooz.com

Flooz - "A digital currency; it folded in 2001 due to lack of consumer acceptance. Flooz.com was a dot-com venture, now defunct, based in New York City that went online in February 1999, promoted by comic actress Whoopi Goldberg in a series of television advertisements.[1] Started by iVillage co-founder Robert Levitan, the company attempted to establish a currency unique to Internet merchants. Adoption of flooz by both merchants and customers proved limited, and it never established itself as a widely recognized medium of exchange, which hindered both its usefulness and appeal."

Stocks that went bust:
TheGlobe.com - Social networking site WAY before Facebook - "theGlobe.com was an internet startup founded in 1994[1] by Cornell students Stephan Paternot and Todd Krizelman. A social networking service, theGlobe.com made headlines by going public on November 13, 1998 and posting the largest first day gain of any IPO in history up to that date.[2] Part of the dot-com bubble, the company's stock price collapsed the next year, and the company retrenched for several years before ceasing operations in 2008."

eToys.com

Webvan - "At its November 1999 IPO, Webvan raised $375 million, shares traded at around $30 and the company was valued at $1.2 billion. But that was its peak." Stock price 12/3/99: $25.44, stock price 7/6/01: 6 cents. Graph of Webvan stock price 1999-2001: http://ww1.hdnux.com/photos/10/44/14/22 ... wImage.jpg

DrKoop.com - "Drkoop.com attracted the attention of AOL a month after going public when drkoop.com's stock hit a high of $45.75 a share. The two companies entered a $89 million four-year strategic partnership to display drkoop.com content on AOL's portal. But drkoop.com didn't last quite that long. The dot.com bubble burst, and investors became increasingly skeptical about the prospects of a health content provider that relied on advertising revenue to build its business. The company began to lose tens of millions of dollars per quarter in 2000, and it announced it would shut down its operations in December 2001."

Garden.com - "The company's stock climbed above $20 in September 1999, just days after its initial public offer. By November 2000 -- a week after Pets.com folded -- Garden.com was trading at 9 cents per share and was forced to shut down."

http://money.cnn.com/galleries/2010/tec ... ts/10.html

CppCoder
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Re: Individual Stocks That Went Bust

Post by CppCoder » Sat Dec 30, 2017 6:18 pm

I don't think all these went bust; some were swallowed up (possibly on their way to going bust). But, they were major companies that are gone today:
  • DEC
  • Sun
  • SGI
  • Cray Computer (It's name is back now, but it's not the original company...interesting story for those that like this sort of thing)
  • Circuit City

PolarInvest
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Re: Individual Stocks That Went Bust

Post by PolarInvest » Sat Dec 30, 2017 6:31 pm

Not so long ago but I lost $2000 in my individual stock days on Peabody Energy (BTU). Since everyone knew that coal was still the future back in the heady days of 2011.

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Re: Individual Stocks That Went Bust

Post by Imperabo » Sat Dec 30, 2017 6:42 pm

Excite@Home was my Waterloo. It should have become a combination of what Google is now along with controlling the internet pipe. It seemed like the only thing the could slow it down was becoming so successful that it would be broken up by regulators. Instead it was run into the ground by a CEO who didn't understand the potential and/or had his own conflicting agenda. The lesson I learned is you can be right about just about everything with regard to a stock and it can still bust. Now it's the index life for me, which has been very good to me.

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Re: Individual Stocks That Went Bust

Post by quantAndHold » Sat Dec 30, 2017 6:43 pm

CppCoder wrote:
Sat Dec 30, 2017 6:18 pm
  • DEC acquired by Compaq in 1998 for $9.6B (which was a lot at the time)
  • Sun acquired by Oracle in 2010 for $5.6B

quantAndHold
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Re: Individual Stocks That Went Bust

Post by quantAndHold » Sat Dec 30, 2017 6:45 pm

Imperabo wrote:
Sat Dec 30, 2017 6:42 pm
Excite@Home was my Waterloo. It should have become a combination of what Google is now along with controlling the internet pipe. It seemed like the only thing the could slow it down was becoming so successful that it would be broken up by regulators. Instead it was run into the ground by a CEO who didn't understand the potential and/or had his own conflicting agenda. The lesson I learned is you can be right about just about everything with regard to a stock and it can still bust. Now it's the index life for me, which has been very good to me.
That was mine, too. I thought I was pretty smart until I met that one. After that, indexing looked pretty darn good.

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Re: Individual Stocks That Went Bust

Post by saltycaper » Sat Dec 30, 2017 6:50 pm

quantAndHold wrote:
Sat Dec 30, 2017 6:43 pm
CppCoder wrote:
Sat Dec 30, 2017 6:18 pm
  • Sun acquired by Oracle in 2010 for $5.6B
Heh. At the height of the tech boom, the market cap for SUNW was over $160 billion.
Quod vitae sectabor iter?

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Re: Individual Stocks That Went Bust

Post by Gill » Sat Dec 30, 2017 6:58 pm

I remember writing a stock purchase recommendation in a corporate finance class at the Wharton School recommending purchase of Bethlehem Steel which eventually went bankrupt. Now I know why I didn’t pursue investment research for a living.
Gill

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Re: Individual Stocks That Went Bust

Post by jimbojones » Sat Dec 30, 2017 8:35 pm

fposte wrote:
Sat Dec 30, 2017 5:20 pm
For sheer as-it-happens drama, GTAT. Here is the thread on The Contrarian Investor starting with the trading halt.
This is a scarier read than any horror story.

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Re: Individual Stocks That Went Bust

Post by CppCoder » Sat Dec 30, 2017 8:55 pm

quantAndHold wrote:
Sat Dec 30, 2017 6:43 pm
CppCoder wrote:
Sat Dec 30, 2017 6:18 pm
  • DEC acquired by Compaq in 1998 for $9.6B (which was a lot at the time)
  • Sun acquired by Oracle in 2010 for $5.6B
Oracle didn't buy Sun. They bought java, and Sun came along with the deal for free. :D

UncleBen
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Re: Individual Stocks That Went Bust

Post by UncleBen » Sat Dec 30, 2017 9:06 pm

People's Express

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Re: Individual Stocks That Went Bust

Post by KESP » Sat Dec 30, 2017 9:38 pm

fposte wrote:
Sat Dec 30, 2017 5:20 pm
For sheer as-it-happens drama, GTAT. Here is the thread on The Contrarian Investor starting with the trading halt.
OMG. That is the saddest thing I have ever read in a financial forum. People losing their retirement, their life savings, their children’s money. Horrible. I think my kids know better by now, but I think I will send them this link anyway.

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Re: Individual Stocks That Went Bust

Post by rgs92 » Sat Dec 30, 2017 9:41 pm

DEC (Digital Equipment) was a hero of the 80s. The future of computing was supposed to be the minicomputer. And VAX/VMS was also supposed to be one of the ruling Operating Systems. Boston/Route 128 was going to be one of the IT capitals of the world.

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 9:50 pm

PolarInvest wrote:
Sat Dec 30, 2017 6:31 pm
Not so long ago but I lost $2000 in my individual stock days on Peabody Energy (BTU). Since everyone knew that coal was still the future back in the heady days of 2011.
We lost money on James River Coal!
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atfish
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Re: Individual Stocks That Went Bust

Post by atfish » Sat Dec 30, 2017 10:09 pm

LORAL Space & Communications. They were going to be the leader in satelite cell phones. I held on till it went to 0.

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Re: Individual Stocks That Went Bust

Post by EyeYield » Sat Dec 30, 2017 10:16 pm

One of the darlings of Wall Street for decades, the company that everybody had to own, Polaroid.
Many of their patents under the name Polaroid are still licensed today.
"The stock market is a giant distraction from the business of investing." - Jack Bogle

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Re: Individual Stocks That Went Bust

Post by Jack FFR1846 » Sat Dec 30, 2017 10:21 pm

EyeYield wrote:
Sat Dec 30, 2017 10:16 pm
One of the darlings of Wall Street for decades, the company that everybody had to own, Polaroid.
Many of their patents under the name Polaroid are still licensed today.
I owned it. It cured me of buying stocks.
Bogle: Smart Beta is stupid

IowaFarmWife
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Re: Individual Stocks That Went Bust

Post by IowaFarmWife » Sat Dec 30, 2017 10:31 pm

Let’s not forget Gateway Computers. They busted a lot of people in my area.

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Re: Individual Stocks That Went Bust

Post by Nate79 » Sat Dec 30, 2017 10:40 pm

Blockbuster

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Nicolas
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Re: Individual Stocks That Went Bust

Post by Nicolas » Sat Dec 30, 2017 10:57 pm

Tucker Corporation. If you'd purchased a Tucker automobile and held onto it all these years you'd have been compensated for your stock losses, depending on how much stock you held, of course. One sold for $2.9 million in 2012. Or even if you held onto the old stock certificates, each one was personally signed by Preston Tucker, and are now sought by collectors. https://en.m.wikipedia.org/wiki/Tucker_48
Last edited by Nicolas on Sun Dec 31, 2017 5:21 am, edited 3 times in total.

spankasmurf
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Re: Individual Stocks That Went Bust

Post by spankasmurf » Sat Dec 30, 2017 11:14 pm

I'm waiting for my GE stock to join that list. Been bemoaning it watching the price fall over the past year. Checked my records and realized in the two years prior I sold off a bunch to lock in gains - lucky or stupid?

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Nicolas
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Re: Individual Stocks That Went Bust

Post by Nicolas » Sat Dec 30, 2017 11:23 pm

Wowww
Last edited by Nicolas on Sun Mar 25, 2018 9:33 am, edited 2 times in total.

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 11:49 pm

Nate79 wrote:
Sat Dec 30, 2017 10:40 pm
Blockbuster
Hi Nate79 -

An amazing story and one that created wealth for a lot of investors. Didn't it climb 1,800% or something. One of the best business books I have read was Wayne Huizenga "The Building of a Blockbuster".

Yes, they were ultimately late o the game (or dismissed) the seismic shift in technology from VCR tapes and DVDs to streaming. The company could have probably taken it to a whole new level if they were at the forefront at that time.

Best.
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Re: Individual Stocks That Went Bust

Post by abuss368 » Sat Dec 30, 2017 11:51 pm

ThePrince wrote:
Sat Dec 30, 2017 2:58 pm
No list like this would be complete without Enron.
Hi ThePrince -

I once saw old stock certificates for Enron listed for sale on eBay!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Individual Stocks That Went Bust

Post by Hawaiishrimp » Sat Dec 30, 2017 11:57 pm

Don't you forget Juniper Networks and NOKIA.
I save and invest my money, so money can make money for me, so I don't have to make money eventually.

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Re: Individual Stocks That Went Bust

Post by abuss368 » Sun Dec 31, 2017 12:00 am

Hawaiishrimp wrote:
Sat Dec 30, 2017 11:57 pm
Don't you forget Juniper Networks.
That one was on a rocket and outperforming Cisco at one time.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Individual Stocks That Went Bust

Post by chw » Sun Dec 31, 2017 12:13 am

Wachovia Bank- another victim of the 2008 recession, bought at a fire sale by Wells Fargo.

billfromct
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Re: Individual Stocks That Went Bust

Post by billfromct » Sun Dec 31, 2017 12:49 am

As Ken Olsen, Digital Equipment Corporation (DEC) founder & CEO said in the early 1980s after IBM came out with the IBM PC: "Who would need a computer on their desk?" (or something like that).

Ken wanted everything on a central mini computer accessed by a "dumb" terminal. His idea of "the cloud" was 20 or 25 years early.

The rest is history.

bill
Last edited by billfromct on Sun Dec 31, 2017 9:15 am, edited 1 time in total.

vested1
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Re: Individual Stocks That Went Bust

Post by vested1 » Sun Dec 31, 2017 9:09 am

Radio Shack. $135 high in 1981, worthless in 2015.

Uniballer
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Re: Individual Stocks That Went Bust

Post by Uniballer » Sun Dec 31, 2017 9:20 am

I guarantee that the list of individual stocks that haven't gone bust is shorter.

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kingsnake
Posts: 439
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Location: midwest

Re: Individual Stocks That Went Bust

Post by kingsnake » Sun Dec 31, 2017 10:30 am

Woolworth? Sports Authority?

Thankful for index investing and bogleheads... :beer

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