These clowns are in a tough industry. And yes, they made great money on the way up.
On the way down, the rosy forecast they came with yesterday made me want to vomit.
The rosy forecast of issuing another 18,000,000 shares and diluting existing owners of the company by 45% was another travesty of epic Wall Street greed.
Ever have your real estate diluted by 4? Or 5%? or 25? I didn't think so.
Only in America's financial markets can these scum get away with such dilutive actions and remain in the board room. Throwing back martini's with their investment bankers and elated with their "capital raise".
Will it ever end?
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now managing the Parisian Family Office. A White Earth Chippewa, raised conservative, growing up in the poorest county in the U.S. on the Pine Ridge Indian Reservation, he began a Wall Street career in 1982. Always been, will always be, an optimist. In a world on a dopamine binge, this is his take on life from Ghost Ranch in MT, Pamelot, his TN farm or their home in San Jose del Cabo, Mexico.
Wednesday, January 06, 2010
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