"Investment Banking is 10% Financial Analysis and 90% Psycho-analysis" – André Meyer  This blog is about the "other 90%"…

Better Sales than Your Client

Advising successful entrepreneurs can be a tough business.  These people are stubborn – this is why they have made it – You don’t get successful by taking orders. On the other hand, they are (for the most part), reasonable people too.  No one gets successful ignoring the ideas and wisdom of other, worthy people. Success […]

Can’t make GREAT? Let it go!

Anaïs Nin, an American author born to Spanish-Cuban parents quipped: “Anything I can not transform into something marvelous, I let go”. This quote is itself marvelous, as it compresses multiple ideas, applicable for business. The first is to always shoot for the extraordinary. Anything less will not inspire the excitement and energy needed to turn an initiative […]

Conviction of Value

I have now seen a small number of sellers with conviction of value.  Here is what I mean:  These people develop a vision of what their company is worth and drive towards that financial target, until they get it. This is quite different from the “delusion of value” which is prevalent, especially with losers, who […]

Growth or Cash

Have your cake and eat it too… is a common misconception of unseasoned investors. To expect the appreciation of a stock AND handsome dividends at the same time is illusory.  It would require a company to have a high margin product or service… without the threat of real competition… with continually unfolding investment-light growth opportunities.  […]

Breezes and Bruises

I had a recent personal experience, which reminded me of the ways of the investment banking business. My family and I were taking a weekend break at the Outer Banks in North Carolina, a natural peninsula that runs parallel to the Atlantic Coast with beautiful sandy beaches and decent size waves. I was fooling around […]