No. of Recommendations: 1
" As a reminder of the ease with which one can mistake the success of a business for skill of the boss, remember Mr Buffett's warning: “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.” Think deeply about WHY that is so...the economics of the business are utterly dominant, not the actions of the boss. Believing otherwise is usually a bit of flimsy "post hoc ergo propter hoc" reasoning.
Jim"
Good morning old bud, you continue to shock some of us. Think back to when Buffett was vigorously supporting Ginny, did she earn her compensation? Did the team that replaced her, earn their compensation?
I worry about you bro. :)
