This is What Happens When You Don't do Your Homework

Sophisticated investors are, of course, expected to do lots of homework when allocating hundreds of millions of dollars. Well, one would think. In reality, it seems like they often resort instead to a cheat sheet much like the one below. 

Perhaps a little more due diligence would have uncovered that many of these “great deals” were actually mythical creatures.

The Daily Reckoning