text: Imagine if Michael Lasky , the former racing handicapper who ran Inphomation into the ground , had seen two years ago that margins were going to decline , that in the absence of any professional requirements more and more psychics would be entering the market , that the time for infomercials had passed , and that the Psychic Friends brand name had hit its peak .
  
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  Michael Lasky thought ahead and steered his business in the right direction before the market changed .