The truth is Fitzy did waste good money on dud players, but I quite like Fitzy, so I look upon his transfer dealings as a number of swops.
For example Hamilton, Cameron, Winnie, Walker, Cooper and Chalmers for Manley, Torfasson, Stickroth , Wishart , Black and Kinnaird.
Which still means Fitzy spent more than he received, but at least he tried to gernerate income for his spending.
Fitzys mistake was Victor and Archibald, and the effect their wages had in the dressing room.
Hay then came in a squandered money on Celtic minded duds ( I wonder if he was the agent for any of his signings)
But in the space of five years we went from a team that could pay big transfer fees and big wages, to a team that travelled to away games in a minibus and had a strike force of Alec Bone and some guy fro Dunipace Juniors.