If you have managers reporting to managers in a startup, you will fail.
We also believe candour benefits us as managers. The CEO who misleads often in public eventually misleads himself in private.
My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.
In high school I was the manager of the football team, so being around boys is natural to me!
As a manager, you are important sometimes, and you make mistakes, but the most important people are your staff and your players. Never call me 'the special one!'
It's unfortunate when an athlete's talent comes with so little forethought or leadership [...] The Falcons need to start over. If next year's team ends up being young and hungry but fairly average, the last thing you want as a general manager or coach is to have a blowhard cornerback whining about his contract leading the charge, no matter how good he is.
Some teams have a nucleus to build around. The Falcons barely have an embryo. So if you see suspicious looking wires running from the locker room to Dimitroff's office, and the general manager pushes down on the plunger as early as today, don't feel the need to cover your eyes. You've already seen the worst.
Whether it's a sitting president when I was an impeachment manager, or a Republican president who has taken liberties with adherence to the law, to me the standard is the same.
I was imagining a long life of being a stone cold loser. Then I got a job, which was really nice, then I got a great agent, a great manager, which was really nice. I was doing a lot of set ups, and, you know, I got to start working in L.A.
The most successful executives are often men who have built their own companies. Ironically their very success frequently brings to them and members of their families personal problems of an intensity rarely encountered by professional managers. And these problems make family businesses probably the most difficult to operate.
In my first career I had founded my own company, with a group of MIT professors, before coming to Harvard to finish my doctorate, and so I had a deep respect for the brains, talent, and dedication of managers. That made it hard for me to believe the attributions in the business press that stupid management was to blame. So I looked elsewhere for an explanation.
One reason there are so many short-lived management fads is that their prescriptions were derived and advocated in precisely this way. So managers read about a fad and try it, find that it doesn't work, abandon the effort, and move on to the next thing. In reality, it is usually the case that the faddish prescription was indeed sound advice in certain circumstances, but actually was poor advice in other circumstances.
To prop up the stock price, managers have to turn down the screws on everybody. That forces them to cancel all the projects that would lead to future growth in order to drop money to the bottom line. This is HP's dilemma today. Once a company's growth has stopped, the game as we have known it is over. It's a scary thing.
Disruptive technology is a theory. It says this will happen and this is why; it's a statement of cause and effect. In our teaching we have so exalted the virtues of data-driven decision making that in many ways we condemn managers only to be able to take action after the data is clear and the game is over. In many ways a good theory is more accurate than data. It allows you to see into the future more clearly.
Google the phrase "the most hated man in America." And this guy is one of the first people to pop up. Martin Shkreli, aka Pharma Bro, a 32-year-old drug company entrepreneur and former hedge fund manager who has a lot of money and loves to talk about how he spends it.
If you think of the way Howlin' Wolf made records, you get the feeling there wasn't a production manager onsite, or a publicist having his say on how he should sing the songs. When you listen to his records, you feel like you're tapping into his voice.
I went on tours with [Bob] Dylan - the big one was in 1975 and called Roaring Thunder Review. I knew him well because I met him around the time he did his second album, in 1963. He recorded one of my songs called Shadows. In the 1970s, it was suggested that we do a duet, because we had the same manager, Albert Grossman, who also managed Odetta and Peter, Paul and Mary. Dylan and I respected what each other did, but I just decided not to do it.
I had been at Comic-Con, and I have the same manager as Bob Morley, so we ended up at a Warner Bros. party. I met Jason Rothenberg for the first time, and he's a fan of Black Sails and Shameless and some of my work, and was like, "Hey, we've been having trouble casting this part. I think you'd be perfect for it, if you'd be willing to come up and have some fun for some episodes."
Campaign manager Eli Gold played by Alan Cumming on "The Good Wife" describing an old maxim in politics, don't commit to a decision before you have to. And that rule appears to have worked brilliantly for Democratic candidate front-runner Hillary Clinton, who has avoided taking a position on the president's trade agenda and has remained out of the ugly public spat with the progressive wing of her party. She has also not taken a position on the Iranian - on the talks.
I've never been good at the money thing. I have had a couple of really nice but inept managers, and a business accountant that ripped me off. But I cannot totally blame my money making lameness on them.
I started taking lessons in third grade because I thought it was a fun thing to do. Through my acting teacher, I got my manager. That was about 5th grade. So once that happened it kind of clicked that I probably should pursue acting as a career.
Many organizations help businesses to stay on top of what's changing or likely to change. It's important for executives and managers who focus on a company's health coverage to stay up-to-speed on what's happening, and it's important for those in the C-suite to understand the changes to factor these new variables into their strategic planning calculus.
We were always told we were one step behind Deep Purple, one step behind Led Zeppelin, one step behind everybody. Our manager didn't want to let us know how popular we were. It's only after we did Ozzfest that people started telling me stuff. I thought they were taking the piss. People would come up to me and go, "Respect."
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