Good management is rare because the payoff can be longer. The benefits of an hour of week of investments by a manager today mostly accrue to others in a longer

Good management is rare because the payoff can be longer. The benefits of an hour of week of investments by a manager today mostly accrue to others in a longer time horizon. It rarely helps this quarters numbers. Good management is also very hard to measure, as it’s not on a scale like technical skills. A good manager in peaceful times can be too soft in tough times.