If I owned any of these Hot New Issues that have doubled, tripled, quintupled or umptupled within days and in some cases hours after they were issued, I most certainly would grab my fabulous windfall, thank my lucky stars and invest the money. It's utter nonsense to think any newly issued stock is really worth two, ten or 20 times the [offering] price.... A management so stupid as to sell shares [cheap], and an underwriter so obtuse as not to discern the real value, together would provide reason enough for a sensible man to get rid of his shares.
Malcolm ForbesExperts kill me. Economic experts, that is. Corporations, foundations, publications and governments pay them by the bucketful, and they fill buckets with forecasts that change more frequently than white-collar, workers do shirts. What Lies Ahead is the usual title. What Lies would often be more appropriate. If women's hemlines changed as rapidly as an economist's forecasts, the fashion people and the textile industry would be more profitable than any other. In fact, if all the country's economists were laid end to end, they still wouldn't reach a conclusion.
Malcolm Forbes