Learn how to take losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
November 11, 2013
As I came up out of the subway in New York City, I realized I was at the beginning of Wall Street. Looking up the street I was absolutely awed to see the lineup of limousines. In Boston at the time there were no limousines. There –on Wall Street- they seemingly were everywhere! To a poor Irish kid from Boston the cars, and their...
October 21, 2013
The other night I entered a Cheesecake Factory restaurant and found myself smiling to no one in particular as my mind drifted back to over twenty years ago. I recalled sitting at the Prime Rib in Baltimore with David Overton, founder of The Cheesecake Factory restaurant chain, and his Chief Financial Officer Bill Kling. We had a large...
May 24, 2013
An attractive woman in her early 40s walked right up to us and gushed to my companion, “Aren’t you …?” It wasn’t the first time I saw that happen. But usually it’s an older male in the financial business. Such is the power of being a “Rock Star“ portfolio manager. You become a celebrity. To qualify as a Rock Star, I submit, you have to have...
April 22, 2013
A two-hour college lecture can seem extraordinarily long when you’re in your early 50s, even with a ten-minute break! But there I was sitting in Massachusetts Hall in Harvard Yard –surrounded by over a hundred “kids”- listening to Professor David Dressler talk about the life cycle of scientific breakthroughs. And I had brought this tedium on...
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