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Eike Batista Loses 33 Billion In 16 Months
Posted: Sat Aug 03, 2013 2:58 pm
by Reub
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?
Re: Eike Batista Loses 33 Billion In 16 Months
Posted: Sat Aug 03, 2013 3:21 pm
by dualstow
Reub wrote:
Portfolio adherents (we need a more catchy name) ?
Too bad "brown shirts" is spoiled for all time. Dammit. :-)
How about Harry Krishnas?
Re: Eike Batista Loses 33 Billion In 16 Months
Posted: Sat Aug 03, 2013 3:41 pm
by Libertarian666
"Brownies", as in Alongside Night. Any HB fans who haven't read that book really should; it's great!
Re: Eike Batista Loses 33 Billion In 16 Months
Posted: Mon Aug 05, 2013 11:25 pm
by smurff
I like Brownies, but it reminds me of what they used to call the the younger girl scouts.
Re: Eike Batista Loses 33 Billion In 16 Months
Posted: Tue Aug 06, 2013 9:25 am
by Libertarian666
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.
Re: Eike Batista Loses 33 Billion In 16 Months
Posted: Tue Aug 06, 2013 1:45 pm
by Ad Orientem
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.