The stock market expert
I am currently reading Michael Lewis's Boomerang: Travels in the new third world , a hilarious account of the events that led to the economic meltdown in Iceland, Greece and Ireland, and of course, eventually, the rest of the world. Iceland's situation was due to the fact that every fisherman wanted to be a financial investor, Greece's was due to inflated accounts and Ireland's was due to the collapse of the banking structure. Iceland was especially funny, because I could exactly relate to what happened. I am not a fisherman, but I did turn a financial investor with fantastic results. So, let me tell you three stories; these stories changed the way I invest. The first story was pretty devastating as an early investor. After making tons of mistakes by investing in worthless companies, I thought it was time I took on the big guns. I realized that if you actually want to make money, it should be done not by volume but by the quality of the stock. ...