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Strategies & Market Trends : Value Investing
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To: Terrapin who wrote (7701)7/9/1999 2:40:00 AM
From: Bob Rudd  Read Replies (1) of 78783
 
Terrapin [John?] Part of the issue is self-dealing management, but a deeper look into the history of the industry revealed a long string of restructurings and financial gaming. Buffett said that when an industry with a reputation for bad fundamentals meets a management with a reputation for superior performance, it's the industry that retains it's reputation. He also said it's good to have and company that an idiot could run without screwing it up, because someday one will.
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