Dislikedfxsaviour - thanks, I for one intend to keep on reading as you post these..they're great little stories. I'v been in & out of the risky investment area since the mid sixties - my first venture being (on the advice of my grandmother) putting money into Manhattan Mutual Fund. Supposedly a great investment, but essentially Tsai ran up paper profits using the same tricks that undermined the last two Bears-on-Sterno hedge funds - faulty valuations on non-liquid instruments. - so that when the real evaluation takes place (i.e. they tried to actually sell the products), it seems the valuations were, ummmm, a little optimistic. I think the one overall lesson in this is that if someone wants your money, and they aren't open, liquid, well-capitalized, and transparent, head for the hills.....
PS - the only reason I forgave my grandmother was that her other favorite was Marriott - run (at that time) as a family business by some really decent people....Ignored
- | Joined Oct 2006 | Status: Member | 535 Posts
Ghost
Swoopen in for my pips while no one is lookin !!