Message 8391450
Message 8391828
To: tonto (54245 )
From: Janice Shell
Thursday, Mar 18 1999 1:59PM ET
Reply # of 54247
I can tell you what I believe is the single most common mistake investors make when committing themselves to BB companies. They quite mistakenly think that success or failure depends on the product or products the firm claims to offer, or to plan to offer. Even worse, they're often convinced that they're buying into a "hot sector", and that this will guarantee success.
That's not how it is. They're buying management. In the case of BBs, management typically consists of a very few people, and they have absolute control of the company. No way is the BOD gonna fire 'em if they're incompetent or dishonest; they ARE the BOD, and they can do what they damned please.
partial snip
I can easily understand how people can be fooled up to a point; we're all inclined to hope for the best. But in RMIL and AZNT (and in MTEI and countless others) we have companies whose management NEVER delivered, NEVER offered convincing explanations of anything at all.
Why all the denial? |
