Quote:
Originally Posted by wutamess
Accountable for using emotional attachment (to CEO's words) instead of DD and pumping a BUY BUY BUY to people who listen to him. He admits he made a mistake with his DD... why is it so hard for you guys to admit he made the mistake?
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I don't think you will find that I said he never made a mistake. What I have said all along is that the people that blindly followed him are the ones that should take some of that blame themselves. No one forced them into that choice. You seem pretty fired about about this, did Kramer cost you are a family member some serious money?
One thing I would caution you on with DD is that had you done that some DD on Enron before they tanked you would have thought they were a great company. At one of our professional seminars we were handed their financials (not knowing what company they were for) in the months before the collapse and everything looked solid. What we learned is sometimes even the best due dilligence can lead to mistakes. In that case they were cooking the books and who knew but non the less the DD proved to be wrong.
In the end it is the person that is making the decision to buy or sell that is the one that needs to take the fall not some scapegoat even if said scapegoat was wrong. Just as Kramer needs to be held accountable so do the persons making the decision to blindly take his advice.