REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Here is an interesting story of a "professional" investment adviser who put his daughter's entire college fund in one option...
Adviser goes for broke
I suppose his daughter is actually getting an excellent eduction - in why it is so important to diversify.[Michael Murphy,the editor of an investment advisory service called New World Investor] invested his daughter’s entire college fund in just one option—the Jan. $10 calls on Arena Pharmaceuticals (ARNA 1.87, +0.01, +0.50%) .
Upon hearing the news of what Murphy had done in her college fund, she reportedly instructed him “to get brochures on Harvard and Stanford.”
Those applications might have to be put on hold: The Arena call options Murphy bought are now worth about 90% less than where they stood last Wednesday evening.
Adviser goes for broke