Let’s Make a Deal
Let's dive into the essence of wisdom I've gleaned over the years, starting with today's phrase: "It's too good to be true." This mantra has been a guiding light through countless encounters with investments and deals that seemed irresistible at first glance. The more alluring they appear, the closer you need to scrutinize them. It's the outlandish deals that often remind you of someone trying to sell you the Brooklyn Bridge, just with a bit more polish.
Reflecting on my father's wisdom, a hardworking cotton farmer who also juggled duties as a mail carrier, brings me to my first anecdote. In the 1950s, we faced a significant challenge with boll weevils devastating our crops. One night, my father was drawn to a broadcast from XELO in Chihuahua, Mexico, advertising a product guaranteed to eradicate boll weevils. Despite the hefty price tag for us at the time, my father sent off the money, only to receive two pieces of wood with instructions that mocked our hope for a solution. This early lesson in skepticism has stuck with me through the years.
Then there's the tale of "Ducky," a character from West Texas who peddled a device called the Satinizer. This machine, purportedly turning cheap whiskey into Sevis Regal, was a masterclass in deception. Ducky showcased it to an eager audience of professionals too dazzled by the prospect to question its legitimacy. His eventual indictment for theft and securities violations was a stark reminder of the thin line between ingenuity and fraud.
Among the colorful characters I've encountered, R.H. Fulton stands out. A man of unparalleled charm and dubious ethics, Fulton once wrote Boone Pickens a substantial check without signing it, leaving Pickens to discover the oversight only after Fulton had conveniently left for Africa. Yet, in another twist of fate, Fulton's guile was almost commendable, illustrating the complex tapestry of human morality.
Speaking of Pickens, his adherence to legal and ethical standards in business dealings offers a counterbalance to the likes of Fulton. Pickens, with his legal team from Baker Botts, navigated the treacherous waters of business with a moral compass that many found lacking in characters like Fulton.
In light of these narratives, the importance of innovation and compliance with the law takes on new meaning. Jay Fred Bucy, a beacon of integrity and intellect, championed the incremental investment tax credit for R&D, demonstrating the profound impact thoughtful legislation can have on national competitiveness and innovation.
Closing these reflections, the underlying message is clear: skepticism is a valuable ally. The tales of Ducky and Fulton, alongside my father's misadventure and Bucy's contributions to technological advancement, illustrate the multifaceted nature of trust, deception, and the pursuit of success. Whether it's a deal that's too good to be true or an investment that promises the moon, the wisdom to discern the real from the illusion is priceless.
