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Are You Missing the Boat on SPACs?
Financial December 17, 2021/Financial There’s a hot new trend on Wall Street right now. People have been asking me whether they’re missing the boat if they don’t invest in SPACs. Special Purpose Acquisition Companies, or SPACs, are essentially shell companies that exist only to buy other companies. Why? To shepherd these acquisitions into public markets…
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Investors Must Think for Themselves
Investment December 17, 2021/Investment These days, legions of investors hang on the every word of celebrity CEOs and business gurus. But no matter how brilliant Elon Musk or some guy on Reddit might be, real investing demands that we think for ourselves. I happen to be a big fan of Warren Buffet, but that does…
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Are You Asking the Right Questions?
Leadership December 17, 2021/Leadership Nothing is more important to the success of a growing business than building a great team. But finding the right people is easier said than done. These days, there are plenty of candidates with sparkling resumes. Unfortunately, it’s much easier to list claimed accomplishments than to truly be the driver (rather…
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When the Music Stopped for GameStop
Investment December 17, 2021/Investment The recent GameStop episode on Wall Street serves as a powerful reminder of the difference between investing and gambling. Gamblers sometimes win big, but over the long term, it pays much more handsomely to be an investor. No experienced investor is surprised that GameStop stock has lost more than 80% of…
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Don’t Fear Being Mistaken
Leadership December 17, 2021/Leadership Most people are too afraid of being wrong. Of course it’s better to be right than wrong, but those aren’t the only options. I recently discovered Cunningham’s Law, which says that “the fastest way to get the right answer is not to ask a question; it’s to share a wrong answer.”…
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Has GameStop Changed Wall Street?
Uncategorized December 17, 2021/Uncategorized Over the last few weeks, the financial press has been riveted by GameStop’s wild ride. The David vs Goliath narrative draws a lot of attention, but how much have things really changed? First, a quick recap: some hedge funds bet against GameStop stock and a group mostly of small, retail investors…
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Combating Bias In Investment Decisions
Investment December 17, 2021/Investment The great Warren Buffet once said that you don’t need a super high IQ to be a great investor. What you need is the right temperament. What exactly is the right temperament? A lot of it has to do with being able to self-examine and stay rational. Our emotions often trick…
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Look Past Distractions To What Really Matters
Leadership December 17, 2021/Leadership For quite a while now, national politics has sucked up most of the oxygen in the news. Stories of conflict and intrigue naturally draw our attention, but how important are they? It’s true that the president has a lot of power. But the actions of a president are generally pretty far…
Read More >>Is Bitcoin a Bubble?
Financial December 17, 2021/Financial The price of bitcoin is soaring and so-called cryptocurrencies are getting more attention than ever. Many people have been asking me if it’s a bubble, time to invest, or even both. First, it helps to have a basic understanding of what we’re talking about. Bitcoin is a novel “virtual” financial asset.…
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Nuance not Pitchforks
Financial December 17, 2021/Financial When prices rise, people tend to get upset. That gets magnified in these hard times, especially for essential items like hand sanitizer or personal protective equipment. A normal reaction is, “the cost of making these items didn’t increase, so it must be price gouging.” This kind of thinking gets lots of…
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Draw the Right Lessons to Win Long Term
Investment December 17, 2021/Investment As a professional investor, people constantly ask for my take on the markets or particular investment moves. I can’t evaluate everybody’s ideas, but I can help people think more clearly. My experience in business (and in life) tells me that humans are not built for objectivity. When things go well, we…
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Business Leaders Must Continue to Step Up
Leadership December 17, 2021/Leadership These days, a lot of professionals are working from home. The pandemic may have forced this change, but I don’t see ways of working going back to exactly how they used to be. New technology has made decentralized, remote work easier. Many professionals are relocating to lower cost locations. In addition,…
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Your Team Should Feel Appreciated
Leadership December 17, 2021/Leadership As we approach this unusual holiday season, I’ve been thinking about my role as a leader. Normally, the end of the year is a great time to team-build and celebrate with gifts, bonuses, and holiday parties. But this year isn’t like past years, especially for companies that are struggling financially. It’s…
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Strong Culture Leads to Great Results
Leadership December 17, 2021/Leadership What makes a winning organization? Is it strategy? Vision? Operational excellence? Talent? All these things are important, but building a great culture might be the most powerful of all. A great business leader, Robert Gore, died recently. Gore was most famous for discovering the waterproof but breathable material known as Gore-Tex.…
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Science Doesn’t Make Decisions For Us
Leadership December 17, 2021/Leadership Recently, I’ve heard a lot of people saying that we need to follow the science. It’s a catchy slogan, but what exactly does it mean? I have deep respect for science, scientists, and the knowledge they have produced. They are a pillar of our modern world. But science cannot weigh competing…
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