In America, the Enron employees who ploughed their savings into company stock learned this lesson painfully.

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"Sandy taught me this lesson: Stock up on gasoline, " he said.

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"The important lesson for the outside stock-market investor is to ignore all transactions by large shareholders, " he says.

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The lesson in all this: In stock picking, as in shopping, bargains are in the eye of the beholder.

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The lesson here is only that the difficulties of settling on a sustainable stock-research business model are one of many reasons you might want to be wary of banking as a sector just now.

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The last and most resonant lesson in all this, of course, was last fall's stock-market debacle.

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If there is a lesson to be learned from years of award season coverage, it is to not place too much stock in the Golden Globes.

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Lesson Number Two: QE 1 and QE 2 boosted the wealth of upper income groups because the stock market rose and the wealthiest benefited since 75% of all common stocks are held by 10% of the population.

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