Jul

5

I think this article entitled "The fall and rise to riches of Edelsten and his young bride" is about as good as it gets. All the pertinent qualities we recently identified as belonging to the malignant hoodoo seem to show up in abundance. Enjoy a good laugh, and mark well,  my friends.

Nigel Davies comments:

Presumably there's a practical application in that if one identifies
companies built by hoodoos they are potential targets for shorting. At
the right time of course


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3 Comments so far

  1. steve on July 5, 2010 8:05 pm

    In my view the mark of a Hoodoo is all about character. Do a background check of a person. Look at their individual tax returns, their credit ratings, how they spend their personal money, how they vacation, who they associate with etc.

    Look at the history of such villians such as Dennis Kozlowski. How can a man run a company successfully hosting multi-million dollar toga parties in Malta. Ordering rare art to put on display in his NY apartment. Granting himself and his directors exhorbitant options.

    Look at Bernie Ebbers. Here is a man whose whole business plan was about accummulating companies rather than assimilating them into a certain network.

    Near the end of Phil Purcell’s career at Morgan Stanley, rumors circled that he was having an extra-marital affair with the general counsel who would soon retire.

    Look at the dot.com bubble of the 90’s there were companies coming public with executives in their late 20’s and 30’s. Hardly a resume to direct a publicly traded company.

    When Larry Ellison lost control of oracle in 1990, he was living on a sailboat off the coast of California rather than coming to work.

    The first tell=tale sign is when these people begin to put more empnasis on their personal life than their professional life. The collapse may not be that far off.

  2. david on July 6, 2010 9:45 am

    That man purse has hoodoo written all over it………….

  3. Jason on July 6, 2010 9:55 am

    I hope that guy lives a very long time, for her sake of course…

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