It looks like getting access to all that capital as a publicly traded company--printing your own currency, i.e. your stock--has it's downside too, if people will dump it with fear to spare:
Not that I'm laughing in even the least bit right now.
Thursday, September 18, 2008
I bought Goldman shortly after the IPO in 1999
At that time, all the fundamental ratios looked really attractive. Little did I know that the enormous money to provide tax gross-ups to the employees would eat up half the revenues I was anticipating. In disgust, I sold it several weeks later for a small loss.
It looks like getting access to all that capital as a publicly traded company--printing your own currency, i.e. your stock--has it's downside too, if people will dump it with fear to spare:
Not that I'm laughing in even the least bit right now.
It looks like getting access to all that capital as a publicly traded company--printing your own currency, i.e. your stock--has it's downside too, if people will dump it with fear to spare:
Not that I'm laughing in even the least bit right now.
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