A Quote by Seth Klarman

When managers are afraid of redemptions, they get liquid. We all saw how many managers went from leveraged long in 2007 to huge net cash in 2008, when the right thing to do in terms of value would have been to do the opposite.
Congratulations offer more potential than cash. The amount of available cash is limited, but managers have an unlimited supply of congratulations. It's important to pay people fairly, but managers also should heap on congratulations and feed people's souls.
If you have managers reporting to managers in a startup, you will fail. Once you get beyond startup, if you have managers reporting to managers, you will create politics.
There are only two kinds of managers. Winning managers and ex-managers.
Managers get interviewed for jobs, but I think it should be the managers who are interviewing the chairman.
General managers - I like to talk about the 'golden gut': general managers that not only can have a sense for the players that are going to perform beyond what people expect and get team chemistry right, but they also have to be able to make trades.
As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?
Maybe other managers would see their team score one goal and then prefer to go back and counter-attack, then try to score the second goal. A lot of those managers are the best managers at the moment, but for me, it's very important to continue the way I play.
Many managers feel, somewhat cynically, that people are being paid to do their jobs and that's that. This attitude reflects an insensitivity to people that is a trademark of many hockey-style managers.
As a whole, the managers today are different in temperament. Most have very good communication skills and are more understanding of the umpire's job. That doesn't mean they are better managers. It just means that I perceive today's managers a bit differently.
Great managers recognize that there is no one way to manage. You may have to be 10 different managers to get the best out of your team.
Most of the managers are lifetime .220 hitters. For years pitchers have been getting these managers out 75% of the time and that's why they don't like us.
Strong managers who make tough decisions to cut jobs provide the only true job security in today's world. Weak managers are the problem. Weak managers destroy jobs.
I have played for many clubs, and for many managers, and been through many highs and lows. But one thing has never changed. And that's the feeling of scoring a goal.
A managed democracy is a wonderful thing... for the managers... and its greatest strength is a 'free press' when 'free' is defined as 'responsible' and the managers define what is 'irresponsible'.
I think corporate managers should learn to be better investors because it would make them better managers.
Smart hiring managers in the modern world should be asking, “How long can you concentrate on a task before you have to take a break?” I wonder how many of them do?
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