Tuesday, February 7, 2012
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Investing Wit and Wisdom

"One of the greatest pieces of economic wisdom is to know what you do not know."
-- John Kenneth Galbraith

This Day In Financial Speculation History

Events
  2002 – This day in the history of scandalized businessmen: CEO Bernard Ebbers of soon-to-be-bankrupt WorldCom tells analysts, “To question WorldCom’s viability is utter nonsense. I highly recommend everyone step back and focus on reality rather than the fear factor.” Elsewhere today in sworn testimony to a House subcommittee, Enron mastermind Jeffrey K. Skilling confides, “On the day I left, I absolutely and unequivocally thought the company was in good shape.”

Dirty Secrets:

"Businessmen, like politicians and anyone else, spent other peoples's money more freely than their own. CEOs purchased better aircraft on the company's tab, and they ate at better restaurants."

-- Warren Buffett


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