10 Most Expensive Failures in the History of Mankind

Never underestimate the stupidity of financial decisions. Not everyone gets a chance to be rich, but there are some who miss out the chance to be rich for they thought their investment wouldn’t be a successful one. So let’s check out some of such disasters.

1. Ronald Wayne & Apple Inc

Ronald Wayne would have been a billionaire | Pic Courtesy: CNN Money

Though Steve Jobs was always in the limelight, not so visible Steve Wozniak and Ronald Wayne were equally instrumental to create the company, Apple. Ronald Wayne wasn’t sure of his investment due to previous bad decisions and guess what, he wasn’t too optimistic with Apple either, which is why Ronald sold his shares in Apple for $800, just 11 days after the company was formed.

Had he not been so hasty, his shares would be worth more than £25 billion at current rates. Not such a wise decision Mr Ronald ha!

2. Mars Climate Orbiter

Credit: unleesh.com

NASA Mars orbiter disintegrated in the atmosphere, costing the space agency a whopping $125 mn

NASA lost $125 million as its Mars Climate Orbiter couldn’t sustain due to a silly mistake, as a result, it disintegrated upon entrance into the atmosphere. The standard practice by NASA was to calculate force into Newton while the engineer who had built the aircraft calculated the propulsion force in pounds and no one even cared to verify this and just assumed that it was already taken care of.

Tsar Alexander II wondering why he sold Alaska | Pic credits: hepandorasociety.com

3. Tsar Alexander II & Alaska

The United States was sold Alaska by the Tsar Alexander II for merely $7.2 million. Tsar Alexander was afraid that US would invade (oh US!) Alaska. Fearing the forceful takeover the Tsar decided to sell it in March 1867. Today, the resources that Alaska has is worth billions, thankfully Tsar Alexander II is not alive to witness his bad financial decision.

Never let your husband throw a lottery ticket if you already bought one | Credit: WOODTV.com

4. Unclaimed Lottery Ticket

Ouch! Imagine someone’s husband throwing the lottery ticket, the very same ticket that would have won the couple a fortune worth around £116 million. This happened in 2010 with a British couple. The woman whose lottery ticket won the prize, didn’t own the ticket anymore because it was thrown away in the trash by her husband. Wondering whether they are still married? 😛 well, let us know in the comment section!

Star Wars – The unknown financial secret | Pic Credit: The Boogaloo Crews

5. Star Wars Franchise

Well, who can doubt the success that surrounds the Star Wars franchise, but it wasn’t so in the early days when 20th Century Fox thought otherwise and lessened the directing fees for George Lucas and handed over the director licensing rights too.

Today, if you were to calculate the money those rights would have bought,  it would be roughly £13 billion. Go figure!

Xerox couldn’t control a mouse dammit! |Pic credit: ExtremeTech

6. Xerox and it’s Mouse

Ever wondered who created the computer mouse? Well, it was Xerox, but unfortunately, it could never cash in with that tool. In 1970 Xerox had created a computer that could be controlled by a mouse, but they never sold it. So who really enjoyed this technology?

Steve Jobs! Yup, he and other fellows from Apple Inc were invited by Xerox for which Apple Inc paid $1 million worth of Apple’s shares. Sometime later, Steve Job’s company launched the concept which in turn was a huge success.

Well if Xerox would have held the rights, they would be sitting on an incredible pile of £355 billion, but bad luck for them because their share value is somewhere around £9 billion, not bad but, you know….

James Howell sold
what could have been a bright future with Bitcoin| Pic Credit: Steemit

7. James Howell and Bitcoin

James Howell, a citizen of United Kingdom had accumulated 7,500 bitcoins in his hard drive in 2009. What he couldn’t do was to handle it with care. So one day, this man ends up spilling a drink (stupid!) on the drive and then trashed it. Now in 2013, Mr James realised the worth of that hard drive that had the bitcoins, but it was too late. He made desperate efforts to locate it, but why do you think he is on our loser’s list?

In 2013, his bitcoins were worth £3.8 million.

Contrary to what the makers claimed, Titanic ship sank |Pic Credit: IrishCentral

8. The Titanic – The not so ‘Unsinkable’

Guess you already know what’s going to be listed here, so lets cut the crap and figure the figures.

Titanic Movie –  $200,000,000

Titanic Ship – $7,500,000

McDonalds and Arch Deluxe has a sad history |Pic credit: The Daily Meal

9. Mc Donalds and Something they are up to

Just like not all eateries are going to make you money, similarly, not every experiment of an established eatery is going to fetch them money. Do you want a proof? Just McAsk!

‘Arch Deluxe Sandwich’, named after Arch sauce, became the Achilles heel for Mc Donalds when it debuted in 1996. The cost of this sandwich was costlier than the costlier than any other product and flopped big time. According to Business Insider, they are bringing it back, so let’s wish them good luck.

$200 million was spent on the advertisement by McDonald’s before they stopped producing it anymore.

DaimlerChrysler AG- We couldn’t find a better image| Pic Credit: manager-magazin.de

10. DaimlerChrysler AG

Daimler AG, German auto giant know for making luxury cars like Mercedes Benz, created DaimlerChrysler AG along with Chrysler, that cost them around £23.2 billion. The investment ended up being fruitless for in 2007, DaimlerChrysler sold off over 80% shares for £4.7 billion to Cerberus Capital Management.

That’s all for now folks. It’s always fun to know about other’s losses until the day it becomes ours, so watch out.

PS: Don’t forget to let us know your views. It’s always good to learn 🙂

 

What To Do With Your Unused 500 & 1000 Currency Notes & How Sensex Reacted to the Announcement?

modin

In a stunt move by the government, Prime Minister Narendra Modi announced yesterday that old currency notes worth denominations of 500 and 1000 INR would stand invalid and illegal from today onwards. But for common people and rightful citizens of the country there is nothing to worry about as such. Government puts several plans in place for the convenience to common people of the country.

The NDA government took the bold step to bring a considerable reduction in the usage of black money in and outside the country. This move will also help the government to keep a tab on people who earned money by way of unfair means and don’t pay taxes on them.

Modi also stated in his 40-minute long speech, that these notes of high denominations (500 & 1000) were often imitated to supply fake ones – that promote anti-lawful activities such as kidnapping, hawala transaction, terrorism and illegal real estate construction which are rampant across the country.

Common People Shouldn’t Feel Panicky

First of all, you have to just stay calm and patient for the next 48-hours. Don’t need to feel tensed or rush here and there. ATM machines and banks would stay closed during these hours. After a couple of days, the ATMs would start to resume their services with a limit of Rs. 2000 rupees in a day.

From 24th of November onwards these machines will dispense currency notes worth the value of Rs. 4000 in a day with new currency notes of Rs. 500 and 1000 INR. Normal people can directly deposit their old currency notes of denominations of Rs. 500 and Rs. 1000 at their bank accounts from 11th November onwards.

Important Facts Regarding the Scheme

  • Banned Currency: Old Issued Notes of Rs. 500 & Rs. 1000.
  • ATM & Bank Closure: In order to fulfill people’s need the government decided to keep bank and ATMs closed for the next 48 hours
  • Applicability: This rule is applicable to every place all across India.
  • Exchange Dates: From 11 November onward you can exchange you old notes of high denominations (500 & 1000) with new ones at any bank or post office by carrying your identity card. Also, you can directly deposit these currency notes at your bank/ Post office accounts.
  • Important Date: You can exchange all your currency notes in 500 and 1000 denominations by 30th December 2016 with the new ones or smaller denominations at Post office, Banks and RBI.

Why Sensex Has Crashed Today?

Many people are still confused that if the government has taken a right measure than why did the sensex open today with a huge dip. Sensex started with a fall in the morning. At 10:30 am, the S&P BSE Sensex went down to 26581 while Nifty50 was trading at 8209 almost 335 points below where it was closed yesterday.

Well there is a no certain answer to it. Dipping of the Sensex has a lot to do with the unexpected victory of Donald Trump at the 44th US Presidential Election as well. Economists said this is a short term impact due to the big announcement on currency denominations made by Prime Minister Modi Yesterday night.

Buying Debt Funds are Good for Your Investment Portfolio

When it comes to investment, most of us are often confused. Sometimes without delving deep we readily accept the proposals or investment scheme suggested by our agents or financial planners ignoring its long term effects. It’s only after a few years we realize whether the investment idea was right or wrong. But by then it would be late.

Honestly speaking, not any investment is bad or good per se. However, it’s extremely essential that every prudent investor should thoroughly get aware about the specialized terminology used in stock market. Continue reading