Some investors think a business is good, but know that management is bad. These investors justify the investment based on the idea that the great price of the business is worth the bad management. This is akin to marrying a supermodel who is going to yell at you all day. Whatever pleasure your eyes may derive from the marriage, your ears will endure a greater amount of pain in the long run. The pocketbooks of those partnering with bad management are likely to see a similar 50%+ decline in their net worth.
In honor of a certain announcement out of Cupertino tomorrow, see this great video of Steve Ballmer’s commentary shortly after the introduction of the iPhone. He