Eike Batista Loses 33 Billion In 16 Months

Reub · Post by **Reub** » Sat Aug 03, 2013 2:58 pm

Brazilian oil tycoon Eike Batista has gone from being the boisterous 8th richest man in the world to being possibly broke...in a short 16 months! Here is the article:

http://www.huffingtonpost.com/2013/07/2 ... 59328.html

What lessons can Permanent Portfolio adherents (we need a more catchy name) learn from him?

Post by **dualstow** » Sat Aug 03, 2013 3:21 pm

Reub wrote: Portfolio adherents (we need a more catchy name) ?

Too bad "brown shirts" is spoiled for all time. Dammit. :-)

How about Harry Krishnas?

Libertarian666 · Post by **Libertarian666** » Sat Aug 03, 2013 3:41 pm

"Brownies", as in Alongside Night. Any HB fans who haven't read that book really should; it's great!

smurff · Post by **smurff** » Mon Aug 05, 2013 11:25 pm

I like Brownies, but it reminds me of what they used to call the the younger girl scouts.

Libertarian666 · Post by **Libertarian666** » Tue Aug 06, 2013 9:25 am

And to get back to the original point of the thread (is that allowed?), this guy is another illustration of one of HB's points: that the best way to get totally wiped out is to use leverage.

Ad Orientem · Post by **Ad Orientem** » Tue Aug 06, 2013 1:45 pm

Holy crap! That's insane. The dude lost $33 billion in less than a year and a half. This reminds me of the axiom that some of the most finanially illiterate people you will ever meet are the super rich.

Eike Batista Loses 33 Billion In 16 Months

Eike Batista Loses 33 Billion In 16 Months

Re: Eike Batista Loses 33 Billion In 16 Months

Re: Eike Batista Loses 33 Billion In 16 Months

Re: Eike Batista Loses 33 Billion In 16 Months

Re: Eike Batista Loses 33 Billion In 16 Months

Re: Eike Batista Loses 33 Billion In 16 Months