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Podcast: My Worst Investment Ever Podcast
Episode: Harvey Sawikin – Do Your Own Homework
Description: BIO: Harvey Sawikin is the co-founder and co-manager of Firebird. Launched in early 1994, Firebird’s funds were the first dedicated to the stock markets of Russia and the former Soviet Union.STORY: Harvey invested twice in a bank and a vodka company without due diligence. Instead, he believed that other companies who had invested in those investments had done the job of verifying their viability. Harvey lost huge amounts in both investments.LEARNING: You’ll fail if you rely on someone else’s due diligence and work. The most dangerous time to invest is when it’s t...