Investing in Walgreen’s may be dangerous to your financial health.
Alcoholic victims of the month:
The shareholders of Walgreen’s, who could suffer as a result of an alcoholic Chief Financial Officer, Wade Miquelon, arrested on suspicion of DUI for the 2nd time in little more than a year. While the company can’t comment on “personal” matters, DUI is a material factor in whether or not a person can be trusted. We really want to be able to trust a CFO. If I hadn’t already sold my Walgreen’s stock, I’d sell it now. (I’ve long felt the ideas promulgated here and in my books could be used in buy and sell decisions of publicly-traded companies, but it’s rare so far for CFOs or CEOs to be outed and hence not particularly helpful as a practical matter—yet.) While alcoholics can take you on a rocket to the moon, if they are in crash and burn mode they can wipe you out. Thinking “this addict is different” or “I’ll get out before burn-out” is not an appropriate risk-management tool