SoulMonster Posted April 23, 2020 Share Posted April 23, 2020 (edited) Quote St. Louis, Missouri – “I thought I was making a really good investment,” Mark Hilton, Superintendent of Sherwood Elementary school stated. “I read The Intelligent Investor this winter and thought buying low and selling high was how you made money. Oil look pretty attractive at $20/bbl so I bought.” Mark Hilton, 45, has been the Superintendent of Sherwood Elementary school in St. Louis, Missouri for ten years. During the past ten years Mark Hilton has invested Sherwood’s endowment in index funds with help of a financial advisor. This year Sherwood’s endowment changed strategies after Mr. Hilton read, The Intelligent Investor. “I read The Intelligent Investor three times this past winter and thought I was an expert stock picker. When oil crashed to $20/bbl I bought ten million barrels.” Mr. Hilton said he doubled Sherwood’s endowment in a few months shorting the S&P 500 right before the economic collapse. “I felt like a genius,” Mark said. “Then I went long oil and it was the worst decision I ever made. I had no idea I had to take possession of these barrels when the May contracts expired.” Sherwood Elementary school now has the responsibility to take contract of 10 million barrels of oil. “I have no idea where we are going to put all of this oil,” Mr. Hilton said lowering his head in shame. “I think I can put 200,000 barrels in the school but after that I have no idea what to do.” Sherwood Elementary school has put Mr. Hilton on involuntary leave of absence for his reckless investment decision. If you have any ideas where Sherwood Elementary can store 10 million barrels of oil don’t hesitate to call the district. Source: https://thestonkmarket.com/elementary-school-forced-to-take-possession-of-ten-million-barrels-of-oil/ I...have...no...words! I actually thought it was true for a moment until I realized it is too good to be true. Edited April 23, 2020 by SoulMonster 2 Quote Link to comment Share on other sites More sharing options...
downzy Posted April 23, 2020 Share Posted April 23, 2020 It sounded plausible. Though my bet is there are real investment advisors who are facing this problem in real life. Quote Link to comment Share on other sites More sharing options...
SoulMonster Posted April 23, 2020 Author Share Posted April 23, 2020 One of the main financial newspapers in Norway was fooled by this spoof article and posted their own translation. My brother, who is in the finance industry, sent it to me and I got fooled for a few minutes. Quote Link to comment Share on other sites More sharing options...
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