is a reminder of one of the golden rules of investing: when you decide to take up an opportunity that everyone else has passed on, you better make sure you understand all the risks and get yourself a real bargain.
But on Tuesday, he was forced to accept that he had bought a lemon. The best estimate is that the games will cost between $6 billion and $7 billion, but Andrews doubts if even that upper estimate is realistic. Andrews has taken the right decision to cancel the games, but this farce will leave the business community shaking its head at the farcical decision to take the event on in the first place.
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