Still, the most amazing thing to me about the Martha Stewart story is that she risked and lost over a BILLION dollars in value of her own company to save about 50 grand in speculation on a medical stock. No wonder she’s a former stock broker.
If you’re a fan of fantasy fiction, you’ll recall Terry Goodkind’s book “Wizard’s First Rule.” Several hundred pages into the book, we discover the Wizard’s First Rule….People are Stupid.
Neil Irwin of the Washington Post has a story taking a look at the value of Martha’s brand this morning. Here’s a quote:
In a survey by a marketing firm conducted after the verdict Friday, consumers viewed the Martha Stewart brand even more negatively than Enron Corp.
More negatively than Enron…wow. I think some of that is likely to be attributed to the heat of the moment, but still.