A Quote by Jeffrey R. Immelt
I have learned that nothing is certain except for the need to have strong risk management, a lot of cash, the willingness to invest even when the future is unclear, and great people.
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Given the central role of effective, firmwide risk management in maintaining strong financial institutions, it is clear that supervisors must redouble their efforts to help organizations improve their risk-management practices...We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk.
As I got into the animation, as I learned more about the business, I learned that you need a lot of people to do anything animated - even a short, let alone a feature film. And you need a lot of money.
Our global future depends on the willingness of every nation to invest in its people, especially women and children.
Boeing has won in the marketplace for 100 years because of innovation, and we need to continue to invest in innovation for the future. And our cash generation strength is what allows us to do that.
PayPal is a strong business: it has a strong balance sheet and free cash flows, and it will help us take a look at where we want to independently invest.
Venture capitalists are professional money managers. We are provided capital to invest as long as we can return it to our investors with a strong return in a reasonable amount of time. A strong return is three times cash on cash. A reasonable amount of time is ten years max.
I tend to go with things people need. Obviously with the barbershop, people will need haircuts regardless of the economy. In a down economy, I choose businesses that don't require a lot of start-up cash or a cash injection on a regular basis. They might need some initially, but not often after. Rental of properties is a good business in a down economy as people struggle with mortgages.
Why, just a couple of economic seasons ago, was idle cash considered an indication of bad management or lazy management? Because it meant that management didn't have this money out at work ... Now look. Presto! A new fashion! Cash is back in! Denigrating liquidity has dropped quicker than hemlines. A management is now saluted if it has some cash, some liquidity, doesn't have to go to the money market at huge interest rates to get the wherewithal to keep going and growing. Along with Ben Franklin, my father and your father would understand and applaud this new economic fashion.
When people come and invest in India, they invest on a certain premise, and the fact that the very premise can change worries them a lot.
To gain profit is important, but you must invest to build up assets that you can cash in in the future.
Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of risk management. There was a failure to recognize how much risk there was in some of these securities that people bought.
The psychology of the saver and the psychology of the investor is very closely connected with Keynes' distinction between risk and uncertainty. When the future is uncertain, he thought that a lot of saving would be directed towards securing, securing more, getting more security in the present, rather than building wealth in the future, which was the classical view, you save in order to invest, in order to consume more later on. What he had called the propensity to hoard or liquidity preference would normally be stronger than the inducement to invest.
You cannot grow in the integrative dance of action and contemplation without a strong tolerance for ambiguity, an ability to allow, forgive, and contain a certain degree of anxiety, and a willingness to not know-and not even need to know. This ever widens and deepens your perspective. This is how you allow and encounter Mystery and move into the contemplative zone.
... People with great passions, people who accomplish great deeds, people who possess strong feelings, even people with great minds and a strong personality, rarely come out of good little boys and girls.
If you don't invest in risk management, it doesn't matter what business you're in, it's a risky business.
The biggest thing I learned from being in the special forces is the decision-making process and also the willingness not to give up. You need to have a certain mindset. I call it a positive mindset.
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