Saturday, May 19, 2012
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Investing Wit and Wisdom

Temperament:
"The key is to have a "money mind," which is not IQ, and then you have to have the right temperament. If you can't control yourself, you're going to have disasters..."
-- Warren Buffett

This Day In Financial Speculation History

Events
  1983 – Wesray (an investment partnership) takes Gibson Greeting Card Inc. public, selling about 30 percent of the company for $96 million and giving the whole company a value of $330 million. About a year before, Wesray had purchased Gibson in a famous leveraged buyout for $80 million, of which $79 million was borrowed. The two deals make Simon and Chambers look like geniuses: they had earned a $250 million pre-tax profit on a $1 million equity investment.


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