Comments on: Larry needs to make a budget

Larry needs to make a budget

mojohand — Sun, 12 Feb 2006 17:20:10 -0800

"I'm worried, Larry. A financial planner counsels his client: "...I think it's imperative that we start to budget and plan. New purchases should be kept to a minimum. We need to establish and execute on a diversification game plan, to eliminate (yes, eliminate) all debt and build up a significant, conservatively structured, liquid investment portfolio...." Sound advice, but you wouldn't have thought this ~~dickhead~~ gentleman would need it.

By: jonson

jonson — Sun, 12 Feb 2006 17:26:25 -0800

Links to a two week old news article? How would people who care NOT have seen this already?

By: hwestiii

hwestiii — Sun, 12 Feb 2006 17:34:14 -0800

First I've seen it.

By: mojohand

mojohand — Sun, 12 Feb 2006 17:37:40 -0800

I hadn't seen it. I was interested. We'll see if there're others. If you're really unhappy, complain in MeTa. Otherwise, grump to yourself, why don't you? And consider adding some roughage to your diet.

By: Kwantsar

Kwantsar — Sun, 12 Feb 2006 17:46:18 -0800

But financial experts agree that borrowing against stock holdings isn't generally accepted as a good way to operate. "If you were to look in the textbook for how a financial plan should work, this would be in chapter one under, 'Never do this,' " said Cynthia Harrington, a former money manager who now writes about finance for journals and magazines. A stupid platitude with which hundreds of thousands of successful investors would disagree.

By: abulafa

abulafa — Sun, 12 Feb 2006 17:49:22 -0800

What hwestii & mojohand said -- what's more, that would seem to be the point of a blog like MeFi. Not to merely regurgitate the increasingly small-seeming amount of news but to pick up the bits that are missed and keep them in context.

By: fluffycreature

fluffycreature — Sun, 12 Feb 2006 17:51:33 -0800

I don't understand why you crossed off dickhead. Seemed to work for me.

By: gurple

gurple — Sun, 12 Feb 2006 17:56:01 -0800

Hey, thanks for the reminder, I've been meaning to dump a bunch of ORCL sooner or later. Larry's my old boss (many levels of management removed), and hearing about his jackass antics always makes me wax nostalgic.

By: shmegegge

shmegegge — Sun, 12 Feb 2006 18:21:36 -0800

kwantsar: how many of those investors are ceos whose principal worth is in their own company? I suspect that that is specifically the case their talking about in the article, not moms and dads borrowing to make a buck on wall street.

By: wakko

wakko — Sun, 12 Feb 2006 18:42:54 -0800

I had forgotten all about Larry Ellison. Good to know he's got 1/10th of his net worth tied up in debt like the rest of us.

By: furtive

furtive — Sun, 12 Feb 2006 18:47:06 -0800

Interesting read. Thanks for the link.

By: fungible

fungible — Sun, 12 Feb 2006 19:02:40 -0800

I liked it. My brother works for Oracle. Larry's going down in flames, some day.

By: SirOmega

SirOmega — Sun, 12 Feb 2006 19:43:18 -0800

Nah, Oracle bought that Peoplesoft CRM stuff, they'll be fine. We went to re-up our support contract for PPLSoft and found our cost had quadrupled. 20M for 4 years. Fuck you Larry.

By: matkline

matkline — Sun, 12 Feb 2006 19:46:00 -0800

dugg

By: soiled cowboy

soiled cowboy — Sun, 12 Feb 2006 20:08:57 -0800

I love Larry.

By: slm303

slm303 — Sun, 12 Feb 2006 20:10:26 -0800

I had forgotten all about Larry Ellison. Good to know he's got 1/10th of his net worth tied up in debt like the rest of us. 1/10?? I'm more like 15/10 (damn student loans, but thankfully the only debt I carry). I assumed that the average American would carry a much more debt than 1/10 of their wealth, but maybe not since the average net worth of a U.S. household is approaching $400K. That's alot higher than I would have thought, but as the article points out, that's mean and not median. Anyone got any better stats to share?

By: dsword

dsword — Sun, 12 Feb 2006 22:42:18 -0800

From the article: Ebbers is serving 25 years in federal prison. I just took a drink!

By: crunchland

crunchland — Mon, 13 Feb 2006 01:50:26 -0800

It was all downhill after City on the Edge of Forever for Ellison.

By: Dag Maggot

Dag Maggot — Mon, 13 Feb 2006 02:12:33 -0800

No, I think his swansong was A Boy and His Dog.