[lbo-talk] The Confessions of Blodgett

Michael Pollak mpollak at panix.com
Fri Dec 17 16:40:07 PST 2004


URL: http://slate.msn.com/id/2110977/sidebar/2108388/

<quote>

I also own a few other stocks and, sadly,

the remnants of several Internet and technology funds that I greedily

shoveled $700,000 into in February and March of 2000, minutes before

the bubble burst. Most of these funds have essentially gone to zero. I

would love to say I lost this money because I was swindled. Alas, I

lost it because, in hindsight, I was a moron.

<unquote>

This seems to be the soul of his self-exculpation: I wasn't a swindler. I was a moron, pied-pipering other morons.

The evidence he marshalls is very persuasive -- his confession makes clear that on the main point, he's an even a bigger moron than he thinks. He still remains positive today that it was impossible for anyone to know that that internet bubble was a bubble -- and that science has proven it.

Michael



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