11/22/2010
The “naive” advisor
The “naive” advisor is a convenient partner for hard headed clients. He is 100% loyal to his master, drinks his words and lends them his “credibility”. The “naive” advisor is not concerned by accounting, economics or logic. He tailors financial theories to his client’s wishes, so that he can serve him better. He sees his [...]
11/18/2010
Not ideas… entrepreneurs
It’s a commonly held belief that venture capitalists are risk takers, willing to gamble on new ideas. My experience is just the opposite. Ideas are dime a dozen and in themselves make people poor more often, than rich. To paraphrase Bill Clinton: It’s the execution, stupid! The value is there with the people who can [...]