Quit while your ahead!!

What a difference a year makes! Sheldon Adelson's public company Las Vegas Sands managed to lose 90%of its value this year. Adelson should have quit or died while he was ahead. He has gone from the third richest man in America (right behind Bill Gates and Warren Buffett) to well... who knows when he will achieve the dead cat bounce. Talk about catching a falling knife! Hey then again it is still pretty impressive to lose well over $20 billion . It means you had to make a fair amount to begin with or maybe just fool a whole hell of a lot of people what you were worth in the first place. Love these pubic markets. Just think what Bernie Madoff would have been worth if he went public. Then again he would have never passed muster with SEC (right?) who virtually gave him a clean bill of health and was an advisory client of his.

http://www.nytimes.com/2008/01/17/business/17adelson.html

http://en.wikipedia.org/wiki/Sheldon_Adelson

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