The Bard Of Barlings
- Jun 15, 2013
Ah yes, the Hunts...It’s surprising to me that due to the residual value of the name Montgomery Ward, you can still order online from Montgomery Ward’s decades after they went bankrupt.
In the worst event, Musk loses all his 44 billion investment, the bankers own the stinking remains of Twitter, and they sell the name to Facebook, or some other social media company.
Provided Musk waits six months and sells Twitter, he won’t get a tax credit but he’ll have have a huge long term capital loss, one of the largest in the history of the world to offset any future long term capital gains he may have.
Who knows, in a few years he may recover like the Hunt brothers did.
How the Hunt Brothers Cornered the Silver Market and Then Lost it All - PriceonomicsIn 1980, two brothers from Texas controlled two-thirds of all the privately held silver on earth. This is the story of how one of history's biggest bets went bust.priceonomics.com
Every era has its stuntmen.
Which is why I don't like huge concentrations of money and power in the hands of one individual. We're all to some extent batshit crazy, but adding vast money to batshit crazy just ends up with more people's lives being needlessly, not to mention whimsically disrupted.