Enron - the smartest guy in the room

[tarnor]

Wow just finished watching this documentary was amazing to say the least.. insights into the collapse of enron.. Every trader should see it!

Very much worth a look.
cheers..

 

[nizar]

i havent seen the movie but read the book

it was well-written i think and a good read...

those guys were really smart... especially Skilling...

 

[TjamesX]

Wow just finished watching this documentary was amazing to say the least.. insights into the collapse of enron.. Every trader should see it!

Very much worth a look.
cheers..

Being in the energy game these days - I definitely would want to have a look, is it available to rent from video stores??

 

[YOUNG_TRADER]

Great documentary,

Absolutely amazing how they kept it going for so long, lol its a black box of earnings analysts don't try to understand where they come from, just accept it!

Marked to Market, maybe MUL should try this strategy,

It never ceases to amaze me how greed can act like an addicitve drug, completely paralysing peoples senses and notions of ethics, morals, risk and return.

Also didn't realise the Terminator was involved with Enron CEO's, so thats how he won the election!

All in all, movie shows how these chaps failed to appreciate the Nash equilibrium (ie the best result is achieved when individuals work in the best interest of themeselves and the group), they chose instead to rely on Adam Smiths notions, of just get the best results for yourself and screw the group if you have to,


Can't believe what they did to California, cost California $30b made themselves $2b

 

[nizar]

You should read the book...

Ken Lay, the way he built the company from nothing, very smart man...

Did he know it was going bankrupt?

Maybe not, he lost a MOTZA when the share price plummeted... He funded most of his investment ventures from Enron stock... (including building a multi-story apartment block) which was cool if Enron stock kept going up but when it fell - oh no...

At the height of it all in 2001, he was worth close to $400m... now he's spent more than $30m on legal fees and his down to his last $650Gs... damn thats a fair loss... almost sounds like he shorted Paladin !!

 

[hiflo]

I saw the documentary.

What really pissed me off was the fact that these guys were paying themselves millions while they were ripping off consumers.

Then again, to understand the facts further I would have to read the book.