aceventura3

Or...perhaps things are not as bad as they seem, but I have been in denial in the past and I am generally an optimistic person.

I find this fact to be interesting and worthy of thought.

* If they received 18% of what they paid, why?
*Did they pay to much?
*Did the original seller receive a windfall profit 78% over true market value. *What did the original seller do with that excess profit?
*Is the reason for receiving 18% on the dollar due to them using financial leverage?
*Did that leverage include options to purchase the land that was going to expire worthless, hence making the 18% significantly better than 0%?
*Should this management team pay a price for being incompetent?
*Is this the way free markets should reward or punish managers of capital?
*Does the buyer of this land at $.18 on the dollar have a built in equity position of $.72?
*What is the buyer going to do with the land?
*What is the buyer going to do with the potential windfall profit?

In the market it is not a zero sum game, there are winners and losers.

I don't expect answers to the questions, just food for thought.

How about opinion?

By what standard do you measure "unmitigated failure". Some people are doing well, have you seen the tax filings of those running for President?

What about: Education? Hard Work? Perseverance? Luck? Inheritance? American Idol?

I am only 47, and I don't even know you.

No.

__________________
"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."