A Quote by Joe Mansueto
I thought a company that provides mutual-fund information could be a great business, because you could construct an effective moat by building large financial databases and customer lists and a strong brand name.
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We have signed an exclusive licensing agreement with a company called TurnerPatterson, another African-American company, and what I thought would be a great vehicle for 'Ebony,' since it is such a strong brand name with tremendous loyalty, is to grow that brand name even more across different areas.
What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the business itself could probably not have borrowed even $100 million. But the owners of that business, because its public, could borrow many billions of dollars on their little pieces of paper- because they had these market valuations. But as a private business, the company itself couldn't borrow even 1/20th of what the individuals could borrow.
Like any small business owner, I experienced the pressures of building a company from the ground up - developing a business plan, balancing the books, meeting payroll and building a customer base.
Like any small business owner, I experienced the pressures of building a company from the ground up - developing a business plan, balancing the books, meeting payroll and building a customer base
If marketers could uncover what is going on in our brains that makes us choose one brand over another-what information passes through our brain's filter and what information doesn't-well, that would be key to truly building brands of the future.
Contemporary technology could be used to eliminate ownership and management of corporations. It could be used to provide - lets say Apple computers. In principle information technology could be used to provide direct information to the work force on the ground so that they could democratically decide what the company would do, eliminating the role of management. It could be used for that. People aren't developing technology for that purpose.
The only choice that leads small business owners to real success in their endeavors is the one that requires real thought. Understanding and building the systems they need within their company to afford them a framework of organization that can scale the business from a company of one to a company of one thousand.
I worked in the family business, which was my father's shoe making company that he had inherited from his father, and that led me to become interested in what could be achieved by a great Italian brand. That became my ambition as a young man.
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
Many financial advisors recommend that you diversify for your own protection. What they fail to tell you is that it is also for their protection. Since most financial advisors cannot tell you exactly which stock or mutual fund is a great investment, they tell you to buy a bunch of them.
Facebook already has a large political ad sales and operations team that manages ad accounts for large campaigns. Zuckerberg hinted that the company could follow the same 'know your customer' guidelines Wall Street banks routinely employ to combat money laundering, logging each and every candidate and super PAC that advertises on Facebook.
Our belief is that if you get the culture right, most of the other stuff, like great customer service, or building a great long-term brand or empowering passionate employees and customers, will happen on its own.
The average person can’t really trust anybody. They can’t trust a broker, because the broker is interested in churning commissions. They can’t trust a mutual fund, because the mutual fund is interested in gathering a lot of assets and keeping them. And now it’s even worse because even the most sophisticated people have no idea what’s going on.
I talk to hundreds of companies a year and spend hour after hour in heady pow-wows with CEOs, financial analysts and my colleagues in the mutual-fund business, but I stumble onto the big winners in extracurricular situations, the same way you do.
I believe Washington should be a more active participant focusing on the issue of why corporate shareholders and mutual fund shareholders are not given fair treatment by corporate management and mutual fund management. We need to develop a national standard of fiduciary duty to ensure that these agents, if you will, are adequately representing the principles - pension beneficiaries and mutual fund shareholders - whom they are duty bound to serve.
A great brand is a promise, a compact with a customer about quality, reliability, innovation, and even community. And while the concept of brand is intangible, brand equity is far from it.
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