Fortune’s latest issue shares “The Best Advice I Ever Got” from a cadre of business muckety-mucks. Lots of good advice from the likes of Michael Bloomberg, Nelson Peltz. Craig Newmark, Tina Fey, and Indra Nooyi. I especially liked the advice from Eddie Lampert, hedge fund head man and Sears chairman ...
"Almost every weekend when I was 7, 8, 9, 10 years old, my father and I would toss a football in the yard or play basketball in the driveway. When we played football, he'd say, "Go out ten steps. Turn to your right." The ball would reach me just before I turned, and it would hit me right in the chest. Why would my dad do this? He told me, "If I waited for you to turn, you and the defensive player would have an equal chance to get the ball. Your opportunity is gone."This idea of anticipation is key to investing and to business generally. You can't wait for an opportunity to become obvious. You have to think, "Here's what other people and companies have done under certain circumstances. Now, under these new circumstances, how is this management likely to behave?" The plays my father designed for me helped me learn to think ahead."
-- Eddie Lampert [source]
There are plenty of good ones in there, and I noticed how many of them centered on taking responsibility for your money, wheich makes sense, given the context of the feature. But then I got distracted when I realized how much Stewart Copeland looks like Andy Dick.
Posted by: flummox | May 12, 2008 at 11:24 AM