Carter Wallace, the pharmaceutical company, right after the first big AIDS scare in 1983... My wife and I figured that everyone would be buying condoms. We were right. "Safe sex" was in and condoms were hot. People were advised to wear two sometimes! Problem was, Carter Wallace only made about 10% of its revenues on them. (Well, nobody told us!) The stock went straight up for about a week, then plunged as profit-takers dumped it. We got burned for about $10,000 - 25% of our investments at the time. Live and learn, just like the greats. Warren Buffett bought $358 million of preferred USAir stock in 1989. By 1991 it was worth $232 million, a $126 million loss. Later that year, a student at Columbia asked him why he'd made the investment. "My psychologist asks me that, too," said Buffett. Eden
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