Tuesday, August 26, 2008

Do not forecast your future by looking at the present!

read the following somewhere...

Do not forecast your future by looking at the present!
In 1923 a meeting held in Chicago was attended by Charles Schwa , head of the world's largest independent steel company, Samuel Insull President of the world's largest utility, Howard Hopson head of the largest Gas company, Ivar Krueger President of the International Match co, one of the world's largest companies that time, Leon Frazier president of the Bank of International settlements, Richard Whitney president of the NYSE, Arthur Cotton and Jesse Livermore two of the world's largest speculators and Albert Fall member of President Harding's cabinet.

Twenty-Five years later Nine of them ended as follows:

Schwab : Died penniless having lived for over five years on borrowed money

Insull : Died Bankrupt in a foreign land

Krueger and Cotton : Died bankrupt

Hopson : Went insane

Whitney and Albert Fall : Just released from prison

Fraser and Livermore: Committed suicide

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