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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Bill/WA who wrote (50441)	1/20/2006 7:40:01 PM
From: kris b	Read Replies (1) of 110194

kris, you are spot on. I have seen a lot of good scams that banks, suppliers fell for. A lot of my competitors (I learnt about it latter when police were looking for them) would buy truck loads of wire from wholesaler sand sell it to other contractors for half price. Then they would bankrupt their company and move to the other provinces. Good luck in nailing them. And so on, and on. It was an epidemic. I have seen it all. The only reason that I survived was that my restaurant (my other business) was throwing off $ 15.000/month (at the bottom of the severe recession in 1986). This gave me cash to buy my bankrupt competitor's (electrical contracting) equipment and materials at 5 cents on the dollars. I used it latter on my jobs at 80% of the market cost, so nobody could compete with me. CASH WAS THE KING. As I was getting stronger, they were going bankrupt. That is why I like depression/deflation scenario. Shitheads/overleveraged borrowers deserve to get killed financially. NO MERCY.

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