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Losing it All |
rffrydr
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 Posted: Tue Oct 07, 2008 10:31 pm Post subject: Losing it All |
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| Code: | | First Post, from Henry, accidentally deleted: |
A lesson for the speculator in all of us:
http://www.latimes.com/news/local/la-me-porterranch7-2008oct07,0,7425239.story
Quote:
But Karthik Rajaram, who held an MBA from UCLA, was a hard-driving businessman. He was involved in several financial ventures. Between his home sale and another lucrative investment, he should have had a pile of cash.
A 2001 article in The Daily Telegraph of London, under the headline "Bust, but big bucks for the big boys," called Rajaram a "winner" in a deal for NanoUniverse, a Los Angeles- and London-based venture fund taken public on the London Stock Exchange.
For a 12,500-pound investment, Rajaram, one of the company's founders, received 875,000 pounds -- or about $1.2 million in 2001 dollars -- after a voluntary liquidation, the newspaper reported.
He also sold his house in 2006, a calculated decision even though his wife, a bookkeeper at a pharmacy, did not want to move, their former neighbors said.
He sold the house for $750,000, making a sizable profit on a home the couple purchased in 1997 for $274,000.
"The market was going down and he wanted to get out before the bottom dropped out," Karns said. "I talked to him last December and he said, 'I feel I did a good thing by selling when I did.' "
It is unclear how Rajaram invested the cash since then and how he lost it.
Nothing fails like success.....
ps Don't live with your mother-in-law.
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Today is the Tomorrow you worried about Yesterday!
Last edited by rffrydr on Sat Aug 27, 2011 8:47 am; edited 2 times in total |
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rffrydr
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rffrydr
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rffrydr
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Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
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rffrydr
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Location: Sunny California
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