Monday, December 29, 2008

"Who are You?"

Richard Crenian Blogs
December 29, 2008

“Who Are You?”

When I read the Globe and Mail, there was a story about a Canadian we shall call Peter Puck, who now lives in California. Peter has been going through some tough times of late. He is in his 60’s, and was the former owner of the Edmonton Oilers and Gainers Meat Packing Plant.

He was apparently hated in Edmonton for selling Wayne Gretzky (99) off to the L.A.Kings and how he thumbed his nose at the blue collared folk in Edmonton. (It was just business I remembered him saying…)

He was idolized as a symbol for the Canadian Entrepreneur and no one in Western Canada in Peter’s time had not known about him. Peter was in everything including real estate and I remember that he was selling off a development in Hawaii, and was even trying to sell shares in the Edmonton hockey team along with his other interests in Teams that he owned or co-owned. He was a very exciting guy to watch and learn from, but unfortunately didn’t know when to quit or my guess is gambled once too often.

All entrepreneurs gamble and some win, and some not so lucky. When you gamble in your 20’s, 30’s up to say even your 50’s, it is ok because you have time on your side and even if you blow it, you may have a chance of coming back in your sixties.

What happens if you are in your 60’s and you blow it? You risk everything.
Who would in their right mind invest in the stock market today on a go forward basis?
We know it is for gamblers and are you going to gamble your hard earned savings?

If Peter Puck would have followed Howard’s footsteps and invested in cash flowing quality assets maybe he might not be in the pickle he is in today. Ask Howard what he can do for you, and if Peter had done so, he would be hanging out in Tucson, golfing with Howard. Howard can be reached at 403-630-4544.

Richard Crenian

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