A Quote by Daniel Kahneman
The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.
Quote Topics
Quote Author
Related Quotes
The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment, with funds run by investment professionals. The firm I worked with, Wellington Management Co., they had one fund. That was very typical in the industry... investment professionals focused on long-term investing.
Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting from its systematic exploitation of individual investors... as funds extract enormous sums from investors in exchange for providing a shocking disservice... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility.
All music now is influenced by Hip Hop. It's so deeply ingrained in the culture.
In investment management today, everybody wants not only to win, but to have a yearly outcome path that never diverges very much from a standard path except on the upside. Well, that is a very artificial, crazy construct. That's the equivalent in investment management to the custom of binding the feet of Chinese women
I would argue that the management of creativity requires a skill set that's relatively different from the traditional management skill set that is appropriate to a large, complex, industrial-era organization.
Our industry expertise (at KKR) enables the firm not only to make better investment choices but also to win the confidence of senior management and sellers, which has enabled us to purchase many companies on an exclusive basis.
Many of the traits that make Amazon unusual are now deeply ingrained in the culture. In fact, if I wanted to change them, I couldn't. The cultures are self-reinforcing, and that's a good thing.
The essence of investment management is the management of risks, not the management of returns.
We feel this passion that we have for music and this relentless need to pursue it and follow it and go wherever it takes. It's just something that's ingrained into us - it's ingrained in us so deeply that we say it's 'in our bones.'
The management of creativity is more intimate. By that I mean that it deals with an individual's personal, psychological landscape. It deals with the way you create relationships. It deals with creating an atmosphere and environment that support the creative process. As a result, it is a management skill set that is inherently psychological and that encourages desired outcomes rather than demands those outcomes.
It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.
Fixing culture is the most critical ? and the most di?cult ? part of a corporate transformation… In the end, management doesn’t change culture. Management invites the workforce itself to change the culture.
I am extremely honoured by Indian Council For Culture Relations, India's apex body on the promotion of great Indian culture across the world for including cinema and I am deeply honoured for being the first person from the Indian film industry to represent the cause of this industry in the overall cultural promotion globally.
The only way to make something cheaply today is to have it mass-produced. For example, you wear the same shoes as everyone else. If you had a fabber, you could custom-make shoes that perfectly fit your feet. Three-dimensional printing will help us move away from the mass consumption that is so deeply ingrained in our culture.
The billionaire founder of investment firm Elliott Management was one of several investors who warned financial ministers in 2007 that a crack in the housing market could cause huge problems for the banking industry.
There's more honor in investment management than in investment banking.
Related Authors
Abraham Maslow Quotes
American
Psychologist
Carl Jung Quotes
Swiss
Psychologist
Edward de Bono Quotes
English
Psychologist
Elisabeth Kubler-Ross Quotes
American
Psychologist
Erich Fromm Quotes
American
Psychologist
James Hillman Quotes
American
Psychologist
M. Scott Peck Quotes
American
Psychologist
Mihaly Csikszentmihalyi Quotes
Hungarian
Psychologist
Nathaniel Branden Quotes
American
Psychologist
Ram Dass Quotes
American
Psychologist
Rollo May Quotes
American
Psychologist
Sigmund Freud Quotes
Austrian
Psychologist
Tara Brach Quotes
American
Psychologist
Viktor E. Frankl Quotes
Austrian
Psychologist
Wayne Dyer Quotes
American
Psychologist