Lessons from Lehman Brothers’ Collapse – Richard Handler

  1. There is no such thing as a “slight liquidity crisis”
  2. Everything in life is fragile
  3. Sometimes bad things happen to good people
  4. Never take anything or anyone for granted
  5. Leverage can’t distinguish between good or bad, but it will happily (magnify) both
  6. You never have as much time as you may think
  7. Character is determined during tough times
  8. Arrogance always kills
  9. If your debt holders are at risk, your shareholders will probably be wiped out
  10. If you stay positive through the storm, the sun always eventually rises, and life will go on.