TURNING ON A DIME
Traders live with the understanding that life turns on a dime. One day you are on top of the world. Then, faster than you can say “dot-com,” you can lose it all. If you doubt the truth of this statement, you simply have to reflect on the fortunes or misfortunes of Martha Stewart and Ted Turner. One day, Martha Stewart was the maven homemaker/empire builder. She was the wealthiest woman in the United States. The next day, she found herself embroiled in an insider-trading scandal that resulted in the loss of her fortune, control of her company, plus her freedom when she faced a prison sentence. She has since come back to regain most of her wealth.
Ted Turner, one of the wealthiest men in the communications industry and noted philanthropist, suddenly lost 90 percent of his billions and became merely a pauper multi-millionaire. He is now back to his billion dollar status as well. These two stories only deal with the loss of fortune and fame. Consider the extraordinarily handsome and athletic actor Christopher Reeve, the star of the Superman movies. One day, he was astride a powerful horse playing polo with the rich and leisured. Moments later, he is was paralyzed, unable to speak, move a finger, and later died after a long battle resulting from that accident.
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