Lehman Brothers going bankrupt?
I’m trying to grasp how such a large & seemingly strong company could go bankrupt. Is it because they broke the # 1 cardinal rule in finance/investing ? – by not D-I-V-E-R-S-I-F-Y-I-N-G ?
…….and have any European banks gone bankrupt for the same reason ?
I ask because I am NOT knowledgeable in finance – and any time I see an expert on TV they specify being "diversified" as the single most important rule. So, I was thinking our big banks got a bit greedy and broke afore mentioned rule.