The new touchphrase in investment meetings is "responsive." We have to be responsive to this situat...
The new touchphrase in investment meetings is "responsive." We have to be responsive to this situation, responsive to that influence, responsive to our warm gut feelings as well as those cold indicators. This do-or-die attitude is getting people into trouble. It is leading to a series of over-reactions one way or the other, and often both, which is muddle-headed, expensive and wrong. In the wider context, there is constant pressure for authorities to "do something" in the face of an unexpected or unpleasant event. This shaky starting point is then compounded by poorly considered decisions...
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