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Wow, this really drives home how absurd the whole WeWork thing was. And even until recently people were talking about how apparently Masayoshi San was playing s
by yawaramin 7y ago
Wow, this really drives home how absurd the whole WeWork thing was. And even until recently people were talking about how apparently Masayoshi San was playing some kind of three-dimensional chess and would come out the winner from WeWork. A fool and his money are soon parted, I guess.
Also, the post title is a nice nod to an Audrey Hepburn/Peter O'Toole movie dripping with '60s cool: https://www.imdb.com/title/tt0060522/ https://www.imdb.com/title/tt0060522/
- djmips 7y agoMasayoshi San I assume is not a fool but I also know that people have weak spots and can be manipulated.
- travisoneill1 7y agoTo statistically show skill in investment it takes a whole lot more data than the human mind assumes, so this is a common occurrence in the world of finance. John Paulson, who became famous as one of the fund managers to make a killing shorting mortgage backed securities, lost 50% in a year (much of it to Sino Forrest, a Chinese fraud) a couple years later.
- hermitdev 7y agoYes, it is very difficult to actually judge skill versus just survivor-ship bias. I worked for a hedge fund that had around $20B under management, lost 60% in 2008, then made all of that back in 18-24 months. Now, they're worth 50% more than loss. Are they skilled? I don't know.
- dadarepublic 7y agoLove the reference you point out :) Even the wisest can be a fool sometimes. And a fool can sometimes spout wisdom. We are only human after all.