?

Log in

No account? Create an account

November 12th, 2008

Richistan evaporating, bit by bit

http://www.reuters.com/article/newsOne/idUSTRE4AA65820081111

The Yellowstone Club got a chunk of a chapter in Robert Frank's book as a profile of its then owner, his birthday part. IIRC, the chapter ended withe the couple divorcing and its worth noting that apparently she got the Club in the divorce. And the Club is not viable in this economy and has declared bankruptcy.

It reminds me, just a little, of when Golden West was sold. There are some people that you _really_ want to pay attention to. But you _never_ want to buy from them. You buy when they buy. You sell when they sell (if not sooner). But you don't ever buy when they sell. They know something you don't and it's going to hurt. A lot.