The Secrets of Successful Investing
I’m old enough to remember when companies sold stock so that they could build their businesses, employ more workers and make the world a better place to live in. Wall Street and its peers all over the world are no longer performing their “honest broker” obligations—but they fully expect us to bail out their sorry asses when things go sour.
Will the Wall Street gamblers—for that’s what they are—learn anything from this experience? It’s doubtful. Almost certainly, their unrepentant avarice will kick in again before long. History has proven that whether it’s the tulip craze or railroad ‘deals,’ non-existent gold mines or fraudulent financials, the insatiable quest for quasi-legal materialistic gain will again rear its ugly head. Whatever the next scam, you can be certain it will wear a different face, be presented with different script and packaged in an unrecognizable wad of pretty tissue paper.