Day Brown wrote:
> zzbunker wrote:
>> The gas problem is really just a an extension of the Generalized
>> Investing Problem.
>> And the only advice that can really be given to poor investors is:
>>
>> I) Learn how to invest when you're young, reinforce the lessons,
>> and don't forget it.
>>
>> II) Learn that the only thing saving money will get you is to a
>> bank.
>> III) Learn that the only thing banks invest in is governments.
>> IV) Learn to diversify, divest, modernize, and upgrade your
>> ****tible Folio;
>> or die like an idiot.
> Much of the information needed you refer to was not available. The board
> members of Enron and Worldcom did not share their plans with the young
> people you have in mind while they were gutting the business.
>
> In an honest system, what you propose works. But we do not have that.
Oh, c'mon. The handwriting was on the wall. *NOBODY* has those growth
rates over any reasonable span of time, especially those that grow
by acquisition. Specialists in VC can see rates like that, but they
are not typical and us mere mortals don't have ... whatever to
play that game.
People, seemingly intelligent people, drank Bernie Ebber's bandwidth
projections in a gulp.
--
Les Cargill
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