Tag: Miscellaneous

Perhaps the most difficult of investment lessons is that inaction is often the best action.

If very rich people are to pay much lower tax rates than the doctors who care for them or the teachers who made their careers possible, there needs to be a compelling demonstration of widespread economic benefits.

Academics and think-tanks need to be reminded that generating publicity is not a legitimate research objective. The study of business is afflicted by confusion between the results of a survey of what people think about the world and a survey of what the world is really like.

An adult with normal habits who lives far from the equator will usually be asleep during several hundred daylight hours, almost all of these in the morning.

The search for “sharp prediction” – the mantra of the modern scientific economist who seeks to replicate the successes of physics for social science – is doomed to failure.

The imperative requirement is for processes that both require and allow elected politicians to make choices and implement them.

Farewell to ICI, Britain’s leading industrial company for most of the 20th century. As a national institution, ICI nurtured some of Britain’s best management talent and developed the skills and knowledge behind the country’s most successful postwar industry.

The mistake both authors and publishers of business books make is to confuse a book about “what I did” with a book about “how to do it”.

That investment style of being in touch with the market but distant from it has impressive antecedents and performance.

When pressure for brand extension of products and geography is continuous, and the service must be delivered by local partners, it is hard to maintain the brand as a means of quality control.