A Quote by Seth Klarman

Because investors are not usually penalized for adhering to conventional practices, doing so is the less professionally risky strategy, even though it virtually guarantees against superior performance.

Seth Klarman

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Against Because Conventional Doing Even Guarantees Investors Less Performance Practices Professionally Risky Strategy Superior Superior Performance Though Virtually

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Seth Klarman
American - Author
Born: May 21, 1957

A good strategy is not always successful, but even an "inappropriate" strategy may be an actual strategy. A "bad strategy" is one that doesn't even try to address an important challenge. Instead, it speaks of aspirations, visions of the future, lays out performance goals, or simply lists a bunch of unconnected actions.

Richard P. Rumelt

Operational effectiveness and strategy are both essential to superior performance.

Michael Porter

Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.

David F. Swensen

Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.

Warren Buffett

If I wasn't doing this kind of exploration, I'd like to be doing some other kind of exploration. It might be more risky, or less risky, but, in the business of exploration, risk is part of the territory.

John L. Phillips

The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.

Warren Buffett

There are certain things in ancient practices that are not worth adhering to.

Cate Blanchett

There are areas using what's called the "checkerboard strategy." They are different cities where you can move around the "checkerboard," doing things you can't do in every square, that you can do in some of them, building a mosaic of these kinds of practices. There are about 400 cable television networks, for example, that are publicly owned. That's a big fight for big private companies. In some areas, this is a political struggle, in some it's conventional common sense.

Gar Alperovitz

The legal system is designed to protect men from the superior power of the state but not to protect women or children from the superior power of men. It therefore provides strong guarantees for the rights of the accused but essentially no guarantees for the rights of the victim. If one set out by design to devise a system for provoking intrusive post-traumatic symptoms, one could not do better than a court of law.

Judith Lewis Herman

I still believe that for good business analysts a concentrated portfolio is a good strategy combined with a long term horizon. Once again, the secret to success in following the formula strategy is patience, a quality in short supply for both professionals and individual investors alike. I think investors should have a large portion of their assets in equities over time.

Joel Greenblatt

After the loss of Columbia a couple of years ago, I think we were reminded of the risk. All of us, though, have always known that the Space Shuttle is a very risky vehicle, much more risky than even flying airplanes in combat.

Mark Kelly

When you can make it this simple, though, just do the right thing. Even if you could get away with less. Even when other people are doing the wrong thing. Even though the wrong thing seems like no big deal.

Price Pritchett

The opportunities and threats existing in any situation always exceed the resources needed to exploit the opportunities or avoid the threats. Thus, strategy is essentially a problem of allocating resources. If strategy is to be successful, it must allocate superior resources against a decisive opportunity.

William Cohen

The single most damaging misconception about strategy is that it is a set of financial performance goals. The so-called "strategies" created by many managements are nothing more than three-to-five year financial performance forecasts. They are then labeled "strategy" and shipped off to the board of directors which goes through the motions of discussing how big the numbers are. Strategy is not your aspirations. Strategy is concerned with how you will arrange your actions and resources to punch through the challenges you face.

Richard P. Rumelt

Everyone thought the acquisition strategy was extremely risky because no one had ever done it successfully. In other words, it was innovative.

Larry Ellison

The debate can be put in the form of the question: Resolved, that the best of money managers cannot be demonstrated to be able to deliver the goods of superior portfolio-selection performance. Any jury that reviews the evidence, and there is a great deal of relevant evidence, must at least come out with the Scottish verdict: Superior investment performance is unproved.

Paul Samuelson

A Quote by Seth Klarman

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