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A fundamental fact of market arithmetic is that the sum of all individual portfolios must equal the market portfolio. So for every investor who is less sensitive to the risk of a given factor and wants to earn the factor premium, there must be an investor who is more sensitive and wants to avoid its risk by paying the factor premium.
The Missing Billionaires
Victor Haghani and James White
Nigel Nicholson’s The I of Leadership, with its strategies for seeing, being and doing, should be parked firmly at the top of that in-flight ‘must read’ folder.
Consiglieri
Richard Hytner
Ok so (1) start small (2-3 execs) and (2) design power centers explicitly… but how do you decide which execs to hire and where the power should sit?Start by looking at your business and map your organizational design to that.
Startup Org Design: Design Power Centers Intentionally
mollyg.substack.com
...catch up on these, and many more highlights
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