Eike Batista goes from billionaire to millionaire

pikachu9 · Jul 26, 2013

http://finance.yahoo.com/blogs/dail...Rwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3
$34.5 billion to $200 million, a 99.4% decline
I wouldn't be surprised if he goes to zero soon because he's in debt.

Whistlingleaf · Jul 26, 2013

I heard he's changing his name to "Busto"

(Sorry couldn't help myself)

pikachu9 · Jul 26, 2013

http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
One example of Batista's listed companies. OGX Petroleo was over $12/share in 2011. Now at $0.26.

nazzdack · Jul 26, 2013

Quote from pikachu9:
----$34.5 billion to $200 million, a 99.4% decline
----wouldn't be surprised....

1) Shoddenfroida.

2) He's still a multi-millionaire compared to most of the thousandaires here.

d08 · Jul 26, 2013

It's spelt schadenfreude.

pikachu9 · Jul 26, 2013

Quote from nazzdack:

1) Shoddenfroida.
2) He's still a multi-millionaire compared to most of the thousandaires here.

I see it as a cautionary tale, one of many.

nazzdack · Jul 27, 2013

Quote from d08:
It's spelt.....

Oh shut up, you thousandaire, European, weenie. :mad:

peilthetraveler · Jul 27, 2013

Just like they said in the movie Trading places. One minute you're up $35 billion in Oil & Gas, the next minute your kids don't go to college and they've repossessed your Bentley.

clacy · Jul 28, 2013

It sounds to me like he was never really worth $35b in the first place. He just had a talent for over hyping his companies, their value, future expected values, etc.

Pekelo · Jul 28, 2013

Quote from clacy:

It sounds to me like he was never really worth $35b in the first place. He just had a talent for over hyping his companies, their value, future expected values, etc.

So he is the Mexican Trump? Well, even if his worth was inflated 10 times, he still went from 3.5 billion to 200 mill, so that is still a nice 93% loss...