How to Lose a Fortune

[BlueHorseshoe 10]

It's always fun to read about the misfortunes of other:

 

http://www.businessweek.com/articles/2013-10-03/eike-batista-how-brazils-richest-man-lost-34-dot-5-billion

 

BlueHorseshoe

[SIUYA 11]

I was discussing this guy with some friends about a year ago - none of his companies ever really made any money, nor produced anything as far as we could tell. It was all 'big talk; raise lots of money spend it and grow your wealth using a share price. Plenty do it, and he did it very well....however picking the top in these things is fraught with danger.

When there is no substance behind it it crumbles quickly.

Occasionally they get the timing right, they hit oil, mining riches etc and get on a commodity boom etc and are able to maintain that wealth to a degree.

 

In this case I think the miss fortune is for those who invested in his companies!

[tradingwizzard 10]

easy come easy go.....

[johnw 10]

I was discussing this guy with some friends about a year ago - none of his companies ever really made any money, nor produced anything as far as we could tell. It was all 'big talk; raise lots of money spend it and grow your wealth using a share price. Plenty do it, and he did it very well....however picking the top in these things is fraught with danger.

When there is no substance behind it it crumbles quickly.

Occasionally they get the timing right, they hit oil, mining riches etc and get on a commodity boom etc and are able to maintain that wealth to a degree.

 

In this case I think the miss fortune is for those who invested in his companies!

 

 

Welcome to South America .. the continent of perpetual potential.

 

On a brighter note, I am sure that the Latino attitude will give way to a more Nordic approach to business and SA will have it's day in the sun.

 

Just make certain that you stay alive long enough to join in the celebrations.

[MrFunke 10]

Maaaan.. that's a lot of money to have lost..