no its not. PPT empire build under direct instructions from the Board of Directors. CEO was highed to Empire Build, and said 'yes boss, no problem boss.'
Don't believe me, read the financial press
Board of Directors had a very stable PPT company, no debt, a decent wealth management,, a decent trustee company.
But Board of Directors became bored (very different to Warren Buffett).
Now share holders pay the consequences.
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