Eike Batista goes from billionaire to millionaire

http://finance.yahoo.com/blogs/dail...Rwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3
$34.5 billion to $200 million, a 99.4% decline
I wouldn't be surprised if he goes to zero soon because he's in debt.

 

I heard he's changing his name to "Busto"

(Sorry couldn't help myself)

 

http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
One example of Batista's listed companies. OGX Petroleo was over $12/share in 2011. Now at $0.26.

 

1) Shoddenfroida.
2) He's still a multi-millionaire compared to most of the thousandaires here.

 

It's spelt schadenfreude.

 

I see it as a cautionary tale, one of many.

 

Oh shut up, you thousandaire, European, weenie.

 

Just like they said in the movie Trading places. One minute you're up $35 billion in Oil & Gas, the next minute your kids don't go to college and they've repossessed your Bentley.

 

It sounds to me like he was never really worth $35b in the first place. He just had a talent for over hyping his companies, their value, future expected values, etc.

 

So he is the Mexican Trump? Well, even if his worth was inflated 10 times, he still went from 3.5 billion to 200 mill, so that is still a nice 93% loss...