{"id":3761,"date":"2012-01-24T13:57:11","date_gmt":"2012-01-24T13:57:11","guid":{"rendered":"https:\/\/www.valueinvest.com\/newyork\/?p=3761"},"modified":"2019-07-18T13:58:22","modified_gmt":"2019-07-18T12:58:22","slug":"vid-january-2012","status":"publish","type":"post","link":"https:\/\/www.valueinvest.com\/newyork\/vid-january-2012\/","title":{"rendered":"VID January 2012"},"content":{"rendered":"<p><strong><span style=\"color: #003366;\"><strong>The Misguided Mix-up of Celebrity and Leadership<\/strong><br \/>\n<\/span><\/strong><a href=\"http:\/\/www.jimcollins.com\/article_topics\/articles\/the-misguided-mixup.html?dm_t=0,0,0,0,0\" target=\"_blank\" rel=\"noopener\">Click here<\/a><a href=\"http:\/\/www.charlierose.com\/view\/interview\/11845\" target=\"_blank\" rel=\"noopener\"><br \/>\n<\/a>Within our long check list of items we use to assess a potential investment is a section on management. \u00a0One of those questions asks whether the leadership is \u201clow ego\u201d. \u00a0We have long believed that the larger the ego of a CEO, the more likely it is that the business will be managed to further the aspirations of the person rather than the shareholders, which often leads to poor capital allocation. \u00a0We recently found this article, written by Jim Collins, the author of \u201cGood to Great\u201d, which supports this thesis.<\/p>\n<p><!--more--><\/p>\n<p><strong><span style=\"color: #003366;\"><strong>An interview with Seth Klarman<\/strong><br \/>\n<\/span> <\/strong><a href=\"http:\/\/vimeo.com\/32333102?dm_t=0,0,0,0,0\" target=\"_blank\" rel=\"noopener\">Click here<\/a><a href=\"http:\/\/www.scribd.com\/doc\/64213896\/Howard-Marks-on-What-s-Behind-the-Downturn-09-07-11\" target=\"_blank\" rel=\"noopener\"><br \/>\n<\/a>A number of you emailed this to us \u2013 so forgive me if you have already seen this. \u00a0The first 18 minutes, covers his philanthropic endeavours. \u00a0Thereafter, this legendary investor discusses his investment philosophy, comparing his style to Warren Buffett\u2019s. \u00a0Klarman also discusses the psychology of investment, suggesting that the value investing instinct to buy when prices are dropping and to sell when they are rising may even be genetic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Misguided Mix-up of Celebrity and Leadership Click here Within our long check list of items we use to assess a potential investment is a section on management. \u00a0One of those questions asks whether the leadership is \u201clow ego\u201d. \u00a0We have long believed that the larger the ego of a CEO, the more likely it [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/posts\/3761"}],"collection":[{"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/comments?post=3761"}],"version-history":[{"count":1,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/posts\/3761\/revisions"}],"predecessor-version":[{"id":3762,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/posts\/3761\/revisions\/3762"}],"wp:attachment":[{"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/media?parent=3761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/categories?post=3761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.valueinvest.com\/newyork\/wp-json\/wp\/v2\/tags?post=3761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}