No. of Recommendations: 1
I always like to say that my best trade ever was selling Enron at about $29.

Therefore one of the worst was buying it at about $60.

At the time I was looking for exposure to energy so I bought Exxon Mobil due to its sheer size/scope, and Enron as the creative innovator. Little did I know how creative!

Incidentally, it was on a Friday or weekend i think that word came out that Enron was doing transactions with shell companies they had set up where the CFO Fastow was an officer or principal in these shell companies. Tho details were still sketchy, that was when I realized the place was rotten to its core -- that the financial group had abdicated its responsibilities to the investors -- and sold at the market first thing on Monday.

Normally one would count on the financial function to keep the overly-exuberant traders in line.
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