Legends are made and careers are destroyed by large price movements in a stock over a short span of time.
Let us look at two examples.
One of the early successes of Warren Buffett was his investment in American Express in the mid-1960s. American Express was hit by a scandal, referred to as the Salad Oil Scandal, which caused its stock price to fall from $65 to $37. Buffett invested a massive 40% of his partnership assets in American Express and the rest, as they say, is history.
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