I believe that something in common with CEO's, and many other people in top level management positions, they're optimists. When asked how long it will take to do a particular task, they honestly believe it can be done quickly, whether that means a day, a month, or a year, it's probably faster than their advisors would suggest if given the opportunity to do so.
I don't doubt that LP's prior beliefs were something she believed possible, and while clearly they were overly optimistic, she'll continue to be an optimist regarding the future. This isn't a bad thing, just something that investors need to know. I certainly prefer this to a CEO who doubts that a company can complete a trial, or who seriously questions the ability to stay in business.
Frankly I hate looking at the financial reports of today regardless of the company. Because of SEC rulings they must be filled with cautions about even the wealthiest companies remaining in business. I can remember when Annual Reports were like commercials for the company, they were the size of small magazines and highlighted what the companies were doing, and they were not loaded with negatives. I really wish the SEC could just issue a publication on the risk of owning stock, and financials could just refer to it while highlighting all that they company was doing.
Would you imagine what it would be like if every purchase we made was anything like the warnings we get when buying stock. Go to a market and need to sign off that we've read the concerns about everything in our market baskets. I really wish the regulators would be far more concerned with truly illegal activities, and far less concerned about allowing people to make decisions about their investments, or the drugs they take or foods they eat, etc.
Gary
