Greece - Letting Your Losers Run

Discussion in 'Economics' started by justrading, Jul 18, 2012.

  1. Reminds me of some friends who owned a bowling center and wanted to sell & retire.

    Turned down an offer of $2.3 Million, with $1.8 Million down and an owner carry of $500K. The wife "wanted it all up front", didn't want to bother with a note... The deal fell through. (I counseled them to take the deal, noting the likely worst case scenario is that they get the property back with $2.3 Million in pocket. Actually, that would have been the BEST case scenario.)

    3 years later they sold for $1.1 Million. Sad day for the entire family.

    Sometimes when you "go for too much", you end up with bupkis.

    True in trading as well.
  2. antaram


    How about Silverdome stadium in Detroit ? Cost taxpayers 55 million to buid, sold 35 years later for 600,000, a year after 20 million sale falls through.
  3. I think alot of people have to learn this lesson the hard way. Myself included. Although the same thing happened to me, I didnt lose out on nearly as much. I had a deal to get $310k, but I passed because I wanted at least $320k and 6 months later, I ended up taking $293k. (actually $290k because I had to kick in another $3k to make the deal close). So my greed cost me $20k