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by tim333 2974 days ago
Yeah reminds me of one of Buffett's sayings "When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.". Perhaps illustrated by Eddie Lampert who used to be considered a genius ("first Wall Street financial manager to exceed an income of $1 billion in a single year"), taking over Sears which hasn't gone great (stock from ~$100 to $2.3).