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Bad financial decisions of our time

#1
Now times have been bad recently, but even compared to my stunning decision to buy some Drax shares a while back :x this takes some beating:

Not that long ago (about 3 years) ITV buys Friends Reunited for £175m. At the time it was: "A key step in the delivery of our strategy to drive new revenue streams for the company."

Today ITV sells it for £25m: to the publisher of the Beano. Michael Grade gave his own perspective on this sorry tale:

"ITV bought it. This management team did not buy it," :lol:

Now where have I heard that before?
 
#2
Blogg said:
Now times have been bad recently, but even compared to my stunning decision to buy some Drax shares a while back :x this takes some beating:

Not that long ago (about 3 years) ITV buys Friends Reunited for £175m. At the time it was: "A key step in the delivery of our strategy to drive new revenue streams for the company."

Today ITV sells it for £25m: to the publisher of the Beano. Michael Grade gave his own perspective on this sorry tale:

"ITV bought it. This management team did not buy it," :lol:

Now where have I heard that before?
Its all go in the wacky world of bean counting.......... :D
 
#3
Blogg said:
Now times have been bad recently, but even compared to my stunning decision to buy some Drax shares a while back :x this takes some beating:

Not that long ago (about 3 years) ITV buys Friends Reunited for £175m. At the time it was: "A key step in the delivery of our strategy to drive new revenue streams for the company."

Today ITV sells it for £25m: to the publisher of the Beano. Michael Grade gave his own perspective on this sorry tale:

"ITV bought it. This management team did not buy it," :lol:

Now where have I heard that before?
Blogg,

Not only the publisher of the Beano.... but also the owner of one of the largest genealogical sites after ancestry.com - findmypast.com. The financial press reckons that the real target was not Friends Reunited but Genes Reunited. Bargain!

I looked at Drax a while ago but couldn't make the figures add up. I hope you weren't caught too badly, although I note they are on the rise after the latest results.

Litotes
 

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