No. of Recommendations: 0
In 1983 a friend and research analyst convinced me to put $2,000 in a thoroughbred limited partnership in Kentucky. Never invest in anything you have to feed or paint, but I did it anyway. Kentucky's horse industry took a bit of a dive, and we lost most of it. OK, dumb, but not tragic: but I was holding it in an IRA account: no tax deduction on the loss. Now THAT's DUMB! Oh, yeah, my friend is now a professor at a prominent business school. (To be fair to him, the other securities he helped us with have done quite well. He also taught me to evaluate purchases my self, and not rely much on the advice of others.)
Print the post  


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.
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.