Dick Fuld’s fundamental strategic mistake

  • Share
  • Read Later

Sorry, been working on my column this morning. Now I can’t figure out how to embed this week-old Bird & Fortune video from FT.com. It’s long, but highly entertaining, and while it’s already been making the rounds for a while I want to make sure nobody misses it. A sample:

There is a rule that property values never go on rising forever. That’s an absolute cast-iron rule. They never have, they never will, and only a complete fool would think otherwise.

Except that just this once we thought they would.


Dick [Fuld] did make a very fundamental strategic mistake. In that never, in his entire career, did he ever work for Goldman Sachs.