Financial Statement

This is the oldest statement of finances I have seen.

History – 18850301 – Financials

In 1885 Little Neck represents only 18% of the assets of the Grammar School Trust.  Since it is the only asset left, that means that the other 82% of the assets vanished.  Consider this when considering the wisdom in converting Little Neck into cash.

Also of note is the fact that in order for that $2000 to become on the order of $30M over the course of 125 years, it would have to increase and average of 8% per year, every year.  To put that into perspective, the S&P 500, a pure equity index with all the associated risks, had an average annualized return of about 6% over the last 50 years.

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