So my dad died and left me with some holdings. Now I am really new and trying to understand the basics… I think… but I can’t seem to wrap my head around this one fund that was bought
FGINX
Now it says I bought 335 shares for 230,875.37 back in 02/05/2020
Average cost per share: $688.09 (don’t really understand this)
Looking at Google graph the fund should have been at: $ 13.98 around that time
As of today I have a unrealised loss of:
-$226,100.78
Current balance: 4,774.59
Price: $14.230
Ok… cool it was a shit investment by my dad lol. I get that but what I don’t understand is how it’s even possible to lose almost 90% value. Because I was curious and looked at the history of the fund and the time from when it was bought and the price of shares are almost the same.
So what gives? Why the huge loss?
There is something massive and fundamental I am not understanding about funds and I can really figure it out.
Sorry for being a noob at this but I am desperate to understand and not make this mistake again if it can be helped.
I also have people to talk to about this but it’s late at night and I’m curious as hell.
Also I am not sure if I am doxing myself by revealing exact I information like this so I understand if this might be removed.
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