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by JumpCrisscross
4635 days ago
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You own Blackberry stock. It's your largest holding. You've seen it lose 90% of its value in the last 5 years. The CEO asks if you'd like to buy a cafeteria pass, good for free meals at the company cafeteria for the next 50 years. Most investors would say no. If a company is selling its cafeteria food to stay afloat, chances are (a) there won't be a company tomorrow or (b) it will find some way to repudiate inconvenient contracts, e.g. go bankrupt. Some very smart people bought into an Argentinian oil and gas deal. Then the friendly government became less friendly and their deeds were worthless pieces of paper. |
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