From 600+ conversations with the world’s leading thinkers.
The wisdom I've gathered over the years taught me to seek out individuals who have a sense of reverence towards the job at hand. Rather than recruiting someone who assumes they've mastered it all, we seek those who regard their roles with awe. My experience has shown me the importance of hiring problem solvers and builders, not just those who impose pre-established templates.
None of this is new. The Romans traded forward contracts in commodities 2000 years ago; a Dutch fugitive, Isaac le Maire, conducted the first ever bear attack on a stock in 1610, leading also to the first ever regulatory ban on short-selling that same year.
We will not employ capital unless we can find an opportunity that has a minimum of 50% upside to our intrinsic value over the term of our investment.
Institutional investors are decidedly more process-oriented in their due diligence, with a quantitative focus, while their non-institutional counterparts generally have a more qualitative approach and require fewer data points in the course of their due diligence.
I've been doing this a long time and have very rarely seen a company with sustainable competitive advantage like Amazon has. They have a very low cost of capital, they are very efficient, and the government provide an additional advantage in that the transactions are not tax.
Good attention is very valuable. In 2017 unlike 2007 when I was yelling about this stuff, people now understand that personal brands are leverage. When you have people's attention, and especially if they think you have value, you can do amazing things.
That's the reason why I tend to say that B2B brand stands for "Boring to Boring" branding. Today, people fundamentally believe that business to business branding has to be incredibly serious… My view is that you should infuse a little bit of emotion into it.
Until James DeGale won a World Title, no-one who'd won a gold medal for Britain in the Olympic Games had ever won a professional World Title, which is quite amazing when you think about that. Think of the guys that didn't even get to the Olympic Games like Naseem Hamed, Nigel Benn, Eubank, Joe Calzaghe, Tyson Fury, Ricky Hatton. Sometimes the greatest boxers get overlooked- or maybe it's because of whoever is picking the amateur team… or maybe there are politics involved…. Sometimes you may just come across guys who are hungrier!
Most every decision that your team will make is independent of you as a leader. If those individuals and teams don't know what that end-game truly looks like, the odds of them making the right decision at any moment in time diminishes.
Any time you're in a situation where the price is 'too low'—and I put that in quotes because it might not feel low to you, sometimes things are very expensive, but there are more people who'd like to buy the thing than they have the ability to serve—that's when a hidden market will crop up.
Tai Chi is the physical manifestation of the Taoist philosophy. It represents the union of yin and yang. It allows one to embrace the seeming contradictions in the world, and in business. How do you become a profitable business while also doing good for society? How do you embrace ambiguity while also using scientific thinking?
We have to start breaking the toxic hyper-masculine alpha male attitude that has become the norm across businesses that you should always be hustling, never sleep, that rest is for wimps.