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Microcap & Penny Stocks : SETO Semicon Tools Inc.
SETO 0.00630-10.0%Nov 5 11:11 AM EST
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To: MSo who wrote (1346)10/19/1998 2:08:00 AM
From: LPasko  Read Replies (2) of 3222
 
They always mention that Long Term has two Nobel Prize winners on board. What they don't mention is that the winners--Professors Black and Scholes--won for determining a method to value stock options; they did not win a prize for clever investing. The Nobel Committee does not award a prize for sharp investing--if it did, the obvious winner would be Warren Buffett (the latest Forbes articles on Buffett's life should be required reading). I don't know what Messrs. Black and Scholes have done in terms of building their personal fortunes, or those of others--does anyone? (By the way, I think that Mr. Meriwhether--for inviting two Nobel Prize wnners onto his board prior to raising money for his fund--deserves consideration for a Nobel Prize in Marketing).

Here's another interesting phenomenon: John Genius wins applause for his brilliant work in one financial area, then starts a hedge fund to make investments of a type in which said Mr. Genius has no track record. Hundred of millions are raised; hundreds of millions are lost, and we all sit around scratching our heads and wondering why. Just because you're a basketball hall of famer doesn't mean you'll excel the same way at baseball. I think that's been proven <g>.
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