understanding the stock market: lesson II

Once upon a time, a young country boy named Ken bought a donkey from an old farmer for $100. The farmer agreed to deliver the donkey the next day.

The next day the farmer drove up and said, "Sorry son, but I have some bad news, the donkey died."
Kenny replied, "Well then, just give me my money back."
The farmer said, "Can't do that. I went and spent it already."
Kenny said, "OK then, just unload the donkey."
The farmer asked, "What ya gonna do with him?"
Kenny, "I'm going to raffle him off."
Farmer, " You can't raffle off a dead donkey!"
Kenny, "Sure I can. Watch me. I just won't tell anybody he is dead."

A month later the farmer met Kenny and asked, "What happened with that dead donkey?"
Kenny, "I raffled him off. I sold 500 tickets at two dollars a piece and made a profit of $800."
Farmer, "Didn't anyone complain?"
Kenny, "Just the guy who won. So I gave him a hundred dollars instead."

Kenny grew up and became the chairman of Enron.