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Management Quotes

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Management Quotes

“The first step toward the management of disease was replacement of demon theories and humours theories by the germ theory. That very step, the beginning of hope, in itself dashed all hopes of magical solutions. It told workers that progress would be made stepwise, at great effort, and that a persistent, unremitting care would have to be paid to a discipline of cleanliness. So it is with software engineering today.”

“At times we are thrown suddenly into positions that seem too big for us and for which we have little preparation. The Lord stimulates our growth this way.... The Lord blesses us far beyond our natural ability and experience. However, it has been my experience that he expects us to quickly exert ourselves and acquire the things we need. He gives us a little time to improve our management skills and detailed knowledge so that we don't have to rely upon him for everything. We'll always need inspiration in these areas we couldn't possibly understand without his help.”

“As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one's risk by spreading too much between enterprises about which one knows little and has no reason for special confidence. . . . One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.”

“Investors should pay attention not only to whether but also to why current holdings are undervalued. It is critical to know why you have made an investment and to sell when the reason for owning it no longer applies. Look for investments with catalysts that may assist directly in the realization of underlying value. Give reference to companies having good managements with a personal financial stake in the business. Finally, diversify your holdings and hedge when it is financially attractive to do so.”

“'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior - like investment management practices of many foundations represented here today. It is sad that today each institutional investor apparently fears most of all that its investment practices will be different from practices of the rest of the crowd.”

“The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.”

“I'm really happy to be working with CES Boxing, Gary Shaw Productions and Eye of the Tiger Management. It shows the direction in which Golden Boy Promotions is heading - in terms of bringing the best fights to the fans. It shows that Golden Boy Promotions is willing to work with anybody in order to satisfy the boxing fans.”

“It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.”

“I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, "My God, they're purple and green. Do fish really take these lures?" And he said, "Mister, I don't sell to fish." Investment managers are in the position of that fishing tackle salesman.”

“Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.”

“Management is efficiency in climbing the ladder of success”

“Management is clearly different from leadership. Leadership is primarily a high-powered, right-brain activity. It's more of an art it's based on a philosophy. You have to ask the ultimate questions of life when you're dealing with personal leadership issues.”

“And they stuck to their guns and fought for Sean Connery, and they were right to fight for Sean Connery. If it wasn't for Sean Connery, we wouldn't all be here. I was raised to fight for what I believed in, so I wasn't going to give up. I wanted Daniel Craig, and Michael wanted Daniel Craig, so we just stuck to our guns. Fortunately, we had the right management who really stuck with us. Thanks to that, we got our choice. He's been an extraordinary Bond, and he is very much the right Bond for the 21st century.”

“One can expect the human race to continue attempting systems just within or just beyond our reach; and software systems are perhaps the most intricate and complex of man's handiworks. The management of this complex craft will demand our best use of new languages and systems, our best adaptation of proven engineering management methods, liberal doses of common sense, and a God-given humility to recognize our fallibility and limitations.”