Warren Buffet :
« Dans n’importe quel métier, il se produira toutes sortes d’événements dans une semaine, un mois, un an.La seule chose qui compte vraiment, c’est d’être dans une bonne activité. Coca-Cola est entré en Bourse en 1919. Les premières actions ont été vendues 40 dollars pièce. L’année suivante, elles étaient tombées à 19 dollars, en raison des bouleversements des prix du sucre après la Première Guerre mondiale. Si vous aviez acheté une action lors de l’introduction, vous auriez donc perdu la moitié de votre argent un an plus tard. Mais si vous l’aviez conservée jusqu’à maintenant, en réinvestissant tous vos dividendes, cette action vaudrait aujourd’hui environ 1,8 million de dollars. Entre-temps, il y a eu des dépressions, il y a eu des guerres, les prix du sucre ont monté et descendu. Il s’est passé un million de choses. »
Bien loin de la spéculation, l’investissement dans une entreprise doit être une démarche de conviction : l’entreprise doit être au centre de la réflexion et les gains et plus values suivront !!
Lorsque l’on investi en bourse, l’objectif premier, avant même de penser aux gains, est de devenir propriétaire d’une partie d’une entreprise dans laquelle on croit.
Pour les sceptiques, voici l’évolution du cours de bourse de l’action COCA COLA depuis 1919 à 2009KO Stock – Year-End Market Values Since 1919 |
||||||||||
|
Closing Price As Listed
|
Adjusted for Splits
|
Dividends
Reinvested ** |
||||||||
| Year | Price | Dividend | Price |
Dividend
|
Cumulative Dividend*
|
Shares
|
Market Value
|
|||
| 1919 | $40.00 | $40.00 |
1
|
$40
|
||||||
| 1920 | 19.50 | $ 2.00 | 19.50 |
$2.00
|
$2.00
|
1
|
21
|
|||
| 1921 | 43.25 | 1.00 | 43.25 |
1.00
|
3.00
|
1
|
49
|
|||
| 1922 | 79.625 | 5.50 | 79.625 |
5.50
|
8.50
|
1
|
96
|
|||
| 1923 | 77.875 | 7.25 | 77.875 |
7.25
|
15.75
|
1
|
102
|
|||
| 1924 | 80.00 | 7.00 | 80.00 |
7.00
|
22.75
|
1
|
114
|
|||
| 1925 | 153.625 | 7.00 | 153.625 |
7.00
|
29.75
|
1
|
230
|
|||
| 1926 | 172.25 | 7.00 | 172.25 |
7.00
|
36.75
|
1
|
268
|
|||
| 2:1 Split 4/25/27 |
3
|
|||||||||
| 1927 | 127.875 | 5.00 | 255.75 |
10.00
|
46.75
|
3
|
414
|
|||
| 1928 | 171.50 | 5.75 | 343.00 |
11.50
|
58.25
|
3
|
574
|
|||
| 1929 | 133.75 | 4.00 | 267.50 |
8.00
|
72.25
|
3
|
471
|
|||
| 1930 | 146.00 | 6.00 | 292.00 |
12.00
|
90.25
|
4
|
546
|
|||
| 1931 | 107.00 | 8.00 | 214.00 |
16.00
|
112.25
|
4
|
439
|
|||
| 1932 | 75.00 | 7.75 | 150.00 |
15.50
|
133.75
|
5
|
350
|
|||
| 1933 | 96.00 | 6.25 | 192.00 |
12.50
|
152.25
|
5
|
487
|
|||
| 1934 | 161.50 | 7.00 | 323.00 |
14.00
|
172.25
|
5
|
866
|
|||
| 4:1 Split 11/15/35 |
21
|
|||||||||
| 1935 | 88.75 | 2.25 | 710.00 |
18.00
|
196.25
|
22
|
1,962
|
|||
| 1936 | 123.75 | 4.00 | 990.00 |
32.00
|
234.25
|
23
|
2,834
|
|||
| 1937 | 114.00 | 4.50 | 912.00 |
36.00
|
276.25
|
24
|
2,723
|
|||
| 1938 | 132.25 | 4.50 | 1,058.00 |
36.00
|
318.25
|
25
|
3,277
|
|||
| 1939 | 117.50 | 5.00 | 940.00 |
40.00
|
364.25
|
26
|
3,045
|
|||
| 1940 | 105.75 | 5.00 | 846.00 |
40.00
|
410.25
|
27
|
2,881
|
|||
| 1941 | 78.00 | 5.00 | 624.00 |
40.00
|
456.25
|
29
|
2,271
|
|||
| 1942 | 87.50 | 4.00 | 700.00 |
32.00
|
494.25
|
30
|
2,674
|
|||
| 1943 | 113.50 | 4.00 | 908.00 |
32.00
|
532.25
|
32
|
3,601
|
|||
| 1944 | 136.00 | 4.00 | 1,088.00 |
32.00
|
570.25
|
33
|
4,452
|
|||
| 1945 | 179.50 | 4.00 | 1,436.00 |
32.00
|
608.25
|
33
|
6,017
|
|||
| 1946 | 140.00 | 4.00 | 1,120.00 |
32.00
|
646.25
|
34
|
4,837
|
|||
| 1947 | 182.00 | 5.00 | 1,456.00 |
40.00
|
692.25
|
35
|
6,471
|
|||
| 1948 | 134.25 | 5.00 | 1,074.00 |
40.00
|
738.25
|
37
|
4,961
|
|||
| 1949 | 166.00 | 6.00 | 1,328.00 |
48.00
|
792.25
|
38
|
6,366
|
|||
| 1950 | 116.00 | 5.00 | 928.00 |
40.00
|
940.25
|
41
|
4,821
|
|||
| 1951 | 102.50 | 5.00 | 820.00 |
40.00
|
980.25
|
43
|
4,468
|
|||
| 1952 | 109.75 | 5.00 | 878.00 |
40.00
|
1,020.25
|
45
|
4,999
|
|||
| 1953 | 111.00 | 5.00 | 888.00 |
40.00
|
1,060.25
|
48
|
5,286
|
|||
| 1954 | 113.25 | 5.00 | 906.00 |
40.00
|
1,100.25
|
50
|
5,632
|
|||
| 1955 | 124.75 | 5.00 | 998.00 |
40.00
|
1,140.25
|
52
|
6,452
|
|||
| 1956 | 98.50 | 5.00 | 788.00 |
40.00
|
1,180.25
|
54
|
5,353
|
|||
| 1957 | 98.00 | 5.00 | 784.00 |
40.00
|
1,220.25
|
57
|
5,598
|
|||
| 1958 | 130.50 | 5.00 | 1,044.00 |
40.00
|
1,260.25
|
59
|
7,739
|
|||
| 1959 | 150.00 | 6.50 | 1,200.00 |
52.00
|
1,312.25
|
62
|
9,282
|
|||
| 3:1 Split 1/22/60 |
185
|
|||||||||
| 1960 | 80.375 | 2.40 | 1,929.00 |
57.60
|
1,369.85
|
191
|
15,366
|
|||
| 1961 | 103.50 | 2.40 | 2,484.00 |
57.60
|
1,427.45
|
196
|
20,245
|
|||
| 1962 | 85.25 | 2.40 | 2,046.00 |
57.60
|
1,485.05
|
201
|
17,145
|
|||
| 1963 | 115.625 | 2.70 | 2,775.00 |
64.80
|
1,549.85
|
206
|
23,797
|
|||
| 1964 | 140.75 | 3.00 | 3,378.00 |
72.00
|
1,621.85
|
210
|
29,585
|
|||
| 2:1 Split 1/22/65 |
420
|
|||||||||
| 1965 | 86.00 | 1.70 | 4,128.00 |
81.60
|
1,703.45
|
429
|
36,869
|
|||
| 1966 | 89.875 | 1.90 | 4,314.00 |
91.20
|
1,794.65
|
438
|
39,345
|
|||
| 1967 | 132.50 | 2.10 | 6,360.00 |
100.80
|
1,895.45
|
|
58,924
|
|||
| 2:1 Split 5/13/68 |
889
|
||||||
| 1968 | 71.50 | 1.1625 | 6,864.00 |
111.60
|
2,007.05
|
904
|
64,627
|
| 1969 | 82.25 | 1.32 | 7,896.00 |
126.72
|
2,133.77
|
918
|
75,537
|
| 1970 | 84.75 | 1.44 | 8,136.00 |
138.24
|
2,272.01
|
934
|
79,156
|
| 1971 | 122.00 | 1.58 | 11,712.00 |
151.68
|
2,423.69
|
946
|
115,423
|
| 1972 | 148.50 | 1.64 | 14,256.00 |
157.44
|
2,581.13
|
956
|
142,046
|
| 1973 | 126.50 | 1.80 | 12,144.00 |
172.80
|
2,753.93
|
970
|
122,724
|
| 1974 | 53.00 | 2.08 | 5,088.00 |
199.68
|
2,953.61
|
1,008
|
53,436
|
| 1975 | 82.25 | 2.30 | 7,896.00 |
220.80
|
3,174.41
|
1,036
|
85,245
|
| 1976 | 79.00 | 2.65 | 7,584.00 |
254.40
|
3,428.81
|
1,071
|
84,623
|
| 2:1 Split 5/9/77 |
2,142
|
||||||
| 1977 | 37.25 | 1.54 | 7,152.00 |
295.68
|
3,724.49
|
2,231
|
83,102
|
| 1978 | 43.875 | 1.74 | 8,424.00 |
334.08
|
4,058.57
|
2,319
|
101,764
|
| 1979 | 34.50 | 1.96 | 6,624.00 |
376.32
|
4,434.89
|
2,451
|
84,565
|
| 1980 | 33.375 | 2.16 | 6,408.00 |
414.72
|
4,849.61
|
2,609
|
87,075
|
| 1981 | 34.75 | 2.32 | 6,672.00 |
445.44
|
5,295.05
|
2,784
|
96,744
|
| 1982 | 52.00 | 2.48 | 9,984.00 |
476.16
|
5,771.21
|
2,917
|
151,684
|
| 1983 | 53.50 | 2.68 | 10,272.00 |
514.56
|
6,285.77
|
3,063
|
163,870
|
| 1984 | 62.375 | 2.76 | 11,976.00 |
529.92
|
6,815.69
|
3,199
|
199,475
|
| 1985 | 84.50 | 2.96 | 16,224.00 |
568.32
|
7,384.01
|
3,310
|
279,695
|
| 3:1 Split 6/16/86 |
9,930
|
||||||
| 1986 | 37.75 | 1.04 | 21,744.00 |
599.04
|
7,983.05
|
10,204
|
385,201
|
| 1987 | 38.125 | 1.12 | 21,960.00 |
645.12
|
8,628.17
|
10,504
|
400,465
|
| 1988 | 44.625 | 1.88 | 25,704.00 |
1,082.88
|
9,711.05
|
10,947
|
488,510
|
| 1989 | 77.25 | 1.36 | 44,496.00 |
783.36
|
10,494.41
|
11,140
|
860,565
|
| 2:1 Split 5/1/90 |
22,280
|
||||||
| 1990 | 46.50 | .80 | 53,568.00 |
921.60
|
11,416.01
|
22,663
|
1,053,830
|
| 1991 | 80.25 | .96 | 92,448.00 |
1,105.92
|
12,521.93
|
22,934
|
1,840,454
|
| 2:1 Split 5/1/92 |
45,868
|
||||||
| 1992 | 41.875 | .56 | 96,480.00 |
1,290.24
|
13,812.17
|
46,481
|
1,946,392
|
| 1993 | 44.625 | .68 | 102,816.00 |
1,566.72
|
15,378.89
|
47,189
|
2,105,809
|
| 1994 | 51.50 | .78 | 118,656.00 |
1,797.12
|
17,176.01
|
47,904
|
2,467,056
|
| 1995 | 74.25 | .88 | 171,072.00 |
2,027.52
|
19,203.53
|
48,472
|
3,599,046
|
| 2:1 Split 5/1/96 |
96,944
|
||||||
| 1996 | 52.625 | .50 | 242,496.00 |
2,304.00
|
21,507.53
|
97,865
|
5,150,146
|
| 1997 | 66.6875 | .56 | 307,296.00 |
2,580.48
|
24,088.01
|
98,687
|
6,581,189
|
| 1998 | 67.00 | .60 | 308,736.00 |
2,764.80
|
26,852.81
|
99,616
|
6,647,302
|
| 1999 | 58.25 | .64 | 268,416.00 |
2,949.12
|
29,801.93
|
100,711
|
5,866,413
|
| 2000 | 60.94 | .68 | 280,811.52 |
3,133.44
|
32,935.37
|
101,835
|
6,205,825
|
| 2001 | 47.15 | .72 | 217,267.20 |
3,317.76
|
36,253.13
|
103,390
|
4,874,839
|
| 2002 | 43.84 | .80 | 202,014.72 |
3,686.40
|
39,939.40
|
105,277
|
4,615,344
|
| 2003 | 50.75 | .88 | 233,856.00 |
4,055.04
|
43,994.44
|
107,102
|
5,435,426
|
| 2004 | 41.64 | 1.00 | 191,877.12 |
4,608.00
|
48,602.44
|
109,674
|
4,566,825
|
| 2005 | 40.31 | 1.12 | 185,748.48 |
5,160.96
|
53,763.40
|
112,721
|
4,543,783
|
| 2006 | 48.25 | 1.24 | 222,336.00 |
5,713.92
|
59,477.32
|
115,617
|
4,659,
400 |
| 2007 | 61.37 | 1.36 | 282,792.96 |
6,266.88
|
65,744.20
|
118,179
|
7,252,645
|
| 2008 | 45.27 | 1.52 | 208,604.16 |
7,004.16
|
72,748.36
|
122,147
|
5,529,595
|
| 2009 | 57.00 | $1.64 | 262,656.00 |
$7,557.12
|
$80,305.48
|
125,661
|
7,162,677
|
* Includes $129 in dividends received 1929-50 on 2 shares « A » stock distributed in 1929, and $105 received
in redemption of these shares in 1950. 1988 dividend includes $0.68 dividend in-kind of KPE stock.
** Assumes all dividends reinvested in additional KO shares at each year-end; no commissions, no taxes.
Source :http://ir.thecoca-colacompany.com/phoenix.zhtml?c=94566&p=irol-stocksplit
Guillaume FONTENEAU
Conseil en Gestion de Patrimoine Indépendant
Tél : 05 49 05 73 02 – 06 03 57 59 11
