

Billionaire Blowups of 2008 - noor420
http://finance.yahoo.com/banking-budgeting/article/106352/Billionaire-Blowups-of-2008

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okeumeni
'Bjorgflur Gudmundsson

March net worth: $1.1 billion Current net worth: zero'

WOOW! I don't believe this.

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pchristensen
"government seizure of Iceland's second largest bank wiped out the $1.1
billion fortune of Gudmundsson, the bank's chairman and biggest shareholder"

<http://news.ycombinator.com/item?id=414491>

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fallentimes
So that's why you diversify :).

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matt1
With $1.0 billion you could invest $10K into 100,000 startups or $100K in
10,000 startups. Surely you could change the world, leave a legacy, and
simultaneously generate a profit on that kind of investment, no?

Why doesn't somebody do this?

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aaronblohowiak
$1.0 in "worth" does not mean $1B in cash. Also, the administration of 10,000
separate investment? How would you mentor the founders? Staff the boards?
Would it be worth your time or your investment?

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vaksel
why is a guy who lost .6 billion, in a higher spot than a guy who lost 1.1
billion?

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maneesh
cause it's in alphabetical order

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vaksel
oh yeah. Thanks

