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Diverse background in digital media, with experience working across large networks, to boutique
Liz Zuliani, EconomyWatch Contributor
If you had bought $1000.00 worth of Nortel stock before it crashed, it would now be worth $49.00.
With Enron, you would have $16.50 of the original $1,000.00.
With WorldCom, you would have less than $5.00 left.
If you had bought $1,000.00 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the 10 cent deposit, you would have $214.00.
Based on the above, my current investment advice is to drink heavily and recycle.
As Enron was going down, Chairman Ken Lay was desperately trying to raise cash.
In a meeting with top bankers, Lay presented a list of all the collateral the company had for a new loan. There were pipelines, contracts, receivables, a half-built plant in India -- quite a list.
But the bankers told him it wasn't enough: "Isn't there ANYTHING else you own that is fully paid for, that you can put up?"
And no one has seen Dick Cheney since.
A truck driver moved to Texas and bought a donkey from an old farmer for $100.
The farmer agreed to deliver the donkey the next day. The next day the farmer drove up and said: "Sorry, but I have some bad news. The donkey died."
"Well, then, just give me my money back."
"Can't do that. I went and spent it already."
"OK, then. Just unload the donkey."
"What ya gonna do with him?"
"I'm going to raffle him off."
"You can't raffle off a dead donkey!"
"Sure I can. Watch me. I just won't tell anybody he's dead."
Stephen S. Roach,
EconomyWatch Contributor
Raghuram Rajan,
EconomyWatch Contributor
George Soros,
EconomyWatch Contributor
Gordon Brown,
EconomyWatch Contributor
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