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On Friday for whatever reason I found myself possesed to throw in my DVD copy of Wall Street. Great idea. Every time I watch that movie it just gets better. The movie seems particularly fitting now with all of the PE buyout activity going on. In fact, as I mentioned in my Dueling Fools article on private equity, there is talk going around that there is, in fact, another Wall Street in the making (some have told me that's a contrary indicator).
While I can't speak to how Wall Street 2 is going to turn out, I highly suggest that anyone that can get their hands on it should re-watch Wall Street.
At the end of the day Gekko was right -- it's information that will allow you to invest successfully. You have to have an edge on the guy that's selling what you're buying, or vice versa. Of course I'd also argue that you don't have to use illegal or ill-gotten information in order to do that.
Or am I still just as naïve as Bud Fox was at the beginning of the movie?