An excellent adaptation of a folk tale for real life. Under the title «The game of Greatest Fool »We can read an informative article by Fernando Calatayud where we see that, as is the case often, reality is stranger than fiction. I recommend you read it because it’s well worth it, just like «Astroc in hindsight«.Call from Mr Pardillo very nervous: «He told me So-and-so that Astroc is about to really take off (sic)».
So-and-so is a private banking manager at the bank Tax Haven, and therefore its credibility in a tie and personified.
So-and-so: «Go for it upside down because a senior accountant from Astroc »He has an account with this bank and has just bought 6 million euros.'.
Pardillo: «I don't know, let me ask my advisers…»
So-and-so: «I've bought everything I could, and so has my family – don't worry, as soon as I see the order the accountant’s sales, before »If they sell theirs, we’ll sell ours. Don’t worry.".
I don’t know if any accountant at Astroc whether or not he has a secret account through which he invests millions of euros in even more unsavoury dealings, At this stage of the game, I don’t even care. But I regard it as a financial myth on a par with the urban myths we’ve all heard at some point, although this time it’s come rather close to the mark. In fact, the closer it seems to home, the more devastating its effects can be – like a bomb. But that’s the way the world is: horses will continue to be sold as long as there are suckers, just as there will always be TV-rubbish as long as it has an audience… Come to think of it, will there ever come a day when we’ll also have finance blog-rubbish? I’m afraid that someone will also benefit media-savvy of financial legends, or perhaps it already is are doing.