Thursday, March 17, 2016

Not All Smart Brokerages Are Wise

A short time back, three stock investment firms bought Valeant Pharma (VRX) at around $112 a share. One firm bought 12 million shares and then more. How many shares the others bought, I do not know. I know the cost was over $100 a share. Today, the stock closed at $29.40 a share.

I guess we all make bad decisions. Even those smart and wise. Sure, I know that in 2008-9 Cat sold at around $20 a share and came back. But those who sold at $116 a share and bought back at 20 made a bundle.Sanders wants that type of money-maker to fund the losers in this world.

Still, it doesn't feel fair either way, does it?

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