Last Words from Lehman Brothers

I teach a class on stock valuation and analysis and one of the exercises I put my students through is to go online and download an annual report of whichever company they like and quote the first sentence in the chairman's letter to the shareholders.

I then relate this to what I call the "Green Bay Packer Syndrome" wherein during my youth growing up in Wisconsin the Green Bay Packers would never, ever, ever win a super bowl, or for that matter a game. And true to form, when they finished the season 0-28, you could rely on Green Bay Packer fans like Obama to spend more money to say, "wait till next year." The same thing applies to ALL publicly traded companies. Doesn't matter that they lost billions. Doesn't matter their product kill 5,000 babies. Doesn't matter they're about to go bankrupt. With lying smiles on their faces they look straight into the camera and say, "Though we may have had some "slight" difficulties this year, we look at it as another opportunity to capitalize upon in our great tradition here at the XYZ Corporation."

Thus I thought it appropriate to post a screen shot of the overpaid, preppy blue blood schmucks, sitting in their hoity toity office at the now befallen piece of Bulge Bracket crap that is known as "Lehman Brothers."



I think I speak for America when I say, "Go ef yourselves!"