Batista: from zero to hero back to zero again (2)

I wrote before about Eike Batista based on an article from BusinessInsider, but Bloomberg wrote a much longer article about the same subject:

"How Brazil's Richest Man Lost $34.5 Billion"

I think pretty relevant for Malaysia, since:

• Several SPACs venture in the same direction (oil&gas and mining), some of them have already embarked on Private Placements, while they only listed a short while ago;
• Several Malaysians are involved in a web of Singaporean companies that have recently crashed down to Earth, companies involved with mining;
• SapuraKencana Petroleum won a contract in Brazil from Petrobras; I am scared when I read this, since Batista could not make money in Brazil despite his home field advantage, can a Malaysian company be successful, while they had (pretty juicy, I guess) contracts from PETRONAS?

I see the above all as signs of a possible bubble, I hope I am wrong.