"The stock market is not a voting mechanism but a weighing mechanism. Valuation metrics have not changed. Eventually, every stock can only be worth the value of the cash flow it is able to earn for the benefit of investors. In the final analysis, true value will win out."
--Benjamin Graham

			1991 -- Cascade International Inc., a fashion chain near the top of BusinessWeek’s 1990 list of “hot growth companies,” announces that its chairman, Victor Incendy, has disappeared -- along with more than 200 of Cascade’s stores. Incendy had claimed that Cascade had between 255 and 400 outlets -- but in reality, there are fewer than 30. The company had reported earning $11 million the previous year; it actually lost $7 million. At its peak price of $11.62 in August, Cascade’s stock had been valued around $200 million; less than a year later, the incredible disappearing company’s stores are sold off for a mere $370,000. Incendy has never been found and remains an international fugitive.