Have you ever noticed how talented individuals, when they get together in a room without focus, can forget what their target is?
About a year ago, I met a smart portfolio manager, who was looking for someone to hold his hand as he formed a new hedge fund. We got to know each other in three meetings, discussing every detail and process he wanted me to work on. His strategy was compelling, and his pedigree and achievements would make him stand out in the business. Then, I met his business partner, who was supposedly more focused on the portfolio and less on business matters. That impression quickly disappeared when that partner came into the room and started questioning why they needed a consultant in the first place. Needless to say, I was quite surprised--feeling like a marriage therapist! This was a conversation these partners should have had long before I got there.
Coincidentally, the same firm's name came up in a conversation with a hedge fund investor last week. This investor said he couldn't figure out what bothered him about this firm despite four interviews. He had apparently met with the investor relations rep and each of the two partners one by one, and asked for one last meeting with both partners in the room to address some remaining questions. The fourth meeting was meant to close the loop and help the investor make the final investment decision, but ended up confusing him altogether. He walked away thinking there is something odd about the relationship of the business partners. Now this is normal and partners don't always see eye to eye, but I am seeing a trend...
Had they been open to working with someone experienced to help them focus their message and avoid such internal miscommunication, they could have easily won this investor over. This is not the first time I have seen a situation like this. And it begs me to question when some fund managers will drop their egos and let professionals do their job by helping them.
I simply could not go away your website before suggesting that I extremely enjoyed the standard information an individual supply for your visitors? Is gonna be again often in order to inspect new posts
sort of appreciated this article :) not every part of it - there were a number of things that i found a lttle bit off but altogether it was a nice read, many thanks for the article! :P Thank you.