I feel sorry for the Enron employees. But not for the shareholders. The evidence of problems was plain to see for anyone who took the time to read financial statements. It was only the ignorant or lazy shareholders who lost money in Enron.
Sometimes that's not the case. Sometimes a stock will crash for reasons substantially beyond the control of management and unpredictable by even the most careful investor -- September 11 was a good example, though it also brought several excellent buying opportunities.
But with Enron, the signs have been there for months. Any investor who was carefully reading the financial statements should have been out of the stock long before it crashed.
It's the same reason I don't feel much sympathy for the investors who get duped by pump-and-dump schemes on OTC and BB stocks. It's their own damn fault. If they don't want to do the research, they should settle for index funds.
You can't cheat an honest man.
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Funny thing, but it seems that the harder I work, the luckier I get.
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