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You can absolutely delegate understanding. If you don't, you are screwed as a leader. In fact, one of the things you have to give up as a leader is being the
by Zetice 4y ago
You can absolutely delegate understanding. If you don't, you are screwed as a leader. In fact, one of the things you have to give up as a leader is being the smartest person in the room.
I'll even go so far as to say if you can't understand something through someone else's expertise, you will not get very far in life.
- danielmarkbruce 4y agoNope, history shows the opposite when it comes to investment decision making.
- Zetice 4y agoEr, no it doesn't. How much about each of Goldman's investments do you think David M. Solomon knows in depth? They make thousands of deals each year, it would be insane and unsustainable for him to have deep knowledge about each, so he delegates. If you're talking about fundamental analysis, you'd also be wrong, as my copy of A Random Walk Down Wall Street makes pretty clear. "Know a bunch of stuff about a company" is not a good investment strategy, or at least does not keep pace with well diversified index funds.
- danielmarkbruce 4y agoHistory of investing. Goldman is almost all services with a touch of principal investing. Random walk is a book written by an academic.
- Zetice 4y agoThese aren't sentences, care to try again?