Are You Feeling Lucky?

In the last – wait for it – 34-years of my career, I have often noticed that there are a lot of people in senior positions that quite honestly are average or worse than average at their jobs. Now, in those years, I have also interacted with and met an awful lot of very bright and talented people – my days at Sybase in the late 1990’s probably rank as the most productive in terms of rubbing shoulders with geniuses…yet, I have constantly puzzled over some of those that I have met who are rich, successful and frankly, incompetent. I recall about 12-years ago, being highly involved with hedge funds in the commodities space – you know, those financial whizz kids, guru’s and innovative, dynamic secretive people. I worked with a colleague to vet managers of many funds and I recall feeling really disappointed. Yes, I did meet a couple of people who I felt were extremely smart but the vast majority were average or less than average in my mind. I mean, anyone can make money going long on crude oil when the fundamentals show its in short supply… nothing special there. I wasn’t surprised when the tide changed,… continue reading

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