Have We Learned Our Lesson From Enron?

Stansberry Investor Hour

Stansberry Research

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4.4 • 677 Ratings

🗓️ 2 April 2020

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week's episode, Dan speaks with Bethany McLean, author of the "The Smartest Guys in the Room" the story of the scandalous and unexpected fall of Enron.

Before their epic collapse, Bethany was one of the first in the financial media investigating the red flags around the company. In early 2001, she wrote an article in Fortune Magazine, titled "Is Enron Overpriced?"

Bethany even lets Dan in on an industry that could be seeing bankruptcies in the coming years.

The two also touch on the Coronavirus, and the reason there's so much uncertainty. Bethany admits "there's a lot that we just don't know" but ends the episode on a very positive tone. Enjoy.

Transcript

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0:00.0	Broadcasting from Baltimore, Maryland, and all around the world, you're listening to the Stansberry Investor Hour.
0:11.0	Tune in each Thursday on iTunes for the latest episodes of the Stansberry Investor Hour.
0:16.1	Sign up for the free show archive at Investor Hour.com.
0:19.7	Here is your host, Dan Ferris. Hello and welcome to the
0:23.5	Stansberry Investor Hour. I'm your host, Dan Ferris. I'm also the editor of Extreme Value
0:29.0	published by Stansberry Research. Today we're going to talk with Bethany McLean. You remember her.
0:36.4	She's a really good writer who wrote that wonderful book.
0:39.8	She and Peter Elkind wrote that wonderful book, The Smartest Guys in the Room, all about the
0:44.2	Enron crisis. I just thought it was a good time to talk to somebody who knew about a good crisis.
0:51.6	And we'll do that a little later. But first, I have a few thoughts to share. This
0:56.9	week, I really, I'm interested in what's happening in the gold market and it's been very strange
1:02.7	and I thought maybe you were as curious as me. And I know you are because I've gotten emails
1:07.6	about it. So what I've done, I've had some phone calls and emails with folks who are in the business of buying and selling physical gold.
1:16.7	And I believe I mentioned my experience of two weeks ago.
1:19.6	I went out and I went to my local coin shop, which is actually a pretty sizable establishment in the area where I live.
1:32.3	And I said, you don't have any, you know, like crew grants or American Eagles. I just buy the, you know, half ounce or one ounce coins.
1:35.3	And he said, no, no, don't have any of those. Can't get them.
1:39.3	You can get Canadian maple leaves, but you'll have to wait eight weeks. So I bought a few of those,
1:46.7	and I'm still waiting because it's only been two weeks. So I was like, wow, that is really crazy.
1:52.9	And then I was looking at the prices of, you know, like the futures prices and the London prices,
1:59.0	and they're all kind of much more different than usual.
2:01.7	So I was like, what is going on?
	...

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