Renwei Diversity

The Smartest Guys in the Room

Currently reading “The Smartest Guys in the Room”. Realizing it took so much more than just Enron to commit such crimes, deceit, willful manipulation of accounting practices. It took the banks, Arthur Anderson, good ol’ Wall Street, analysts, and the handful of very very corrupt executives they had. wow. enron’s power reminds me a lot like wal-mart’s (sam walton many times acknowledging they’ve become very powerful and had to keep that in mind so they wouldn’t abuse it) except Enron abused it badly. and made terrible terrible bets.

Renwei Diversity

GM

I remember when I lived in Hazel Park GM just lost it’s “largest most profitable company” in the world to Wal Mart. On Thursday GM went below $5 a share. It’s pretty unbelievable really. We’ll see if they can rebound from this fall from grace, I’m betting they can, I’m now a proud owner of 900 shares of GM.