Most financiers, corporate lawyers, lobbyists, and management consultants are competing with other financiers, lawyers, lobbyists, and management consultants in zero-sum games that take money out of one set of pockets and put it into another.
There were times at Harvard when I actually longed to hang out with a few more Trotskyists, rather than yet another set of future consultants and investment bankers. At least the Trotskyists cared about the important stuff.
Most books on management are written by management consultants, and they study successful companies after they've succeeded, so they only hear winning stories.
Our schools are not geared toward building, preparing kids for the modern economy.
People believe that management consultants are mostly useless parasites. Up until about 1980 it was consultants more than anyone else who came up with the critical concepts behind strategy. The history of strategy suggests there are lots of things consultants can do for a company that the company can't typically do for itself.
ICG became a dot-com joke, a one-stock example of extreme hubris on the part of its management and the investment bankers and sell-side analysts who embarrassed themselves by pumping it up.
I hated being a junior investment banker. I loved the research business, the wealth management business.
Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?
My only focus was the Olympics because in my sport, that is the ultimate. Everything is geared toward that, and my entire life was geared around getting there and winning gold.
By offering an education centered on values, the faculty in Catholic schools can create an interactive setting between parents and students that is geared toward long-term healthy character and scholastic development for all enrolled children.
A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business
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 essence of investment management is the management of risks, not the management of returns.
The Top 40 is geared toward 20 and under, not 20 and up. That's the audience I'm geared to.
The Top 40 is geared toward 20 and under, not 20 and up. That's the audience I'm geared to
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