Message Font: Serif | Sans-Serif
No. of Recommendations: 3
On this date in 1880:

Ferdinand de Lesseps Compagnie Universelle du Canal Interoceanique, organized to finance construction of the Panama Canal, goes public in Paris at 500 francs ($100) a share. De Lesseps bribes the French press with more than $300,000 in slush money, so the newspapers are enthusiastic -- and the public goes WILD, as more than 100,000 people buy into the IPO.

Within eight years the company collapses and the shares become WORTHLESS !
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.