It is true that being patient is a very good trait in a negotiator. Waiting for a first-rate opportunity, not reacting too quickly, and tolerating delay in obtaining a goal are all qualities that pay off nicely for the best negotiators. If you can avoid being hurried, you will … [Read more...]
Warren Buffett’s Bet Against Hedge Funds
As has been widely reported, billionaire investor Warren Buffett made a wager some years ago pitting the US stock market against a group of hedge funds. To be more specific, Buffett took the position that the broad stock market would perform better, over a decade, than a … [Read more...]
Economists and Meteorologists: Who Can Know The Future?
I give many lectures on financial topics. In that context, I am frequently heard to say that economists know a great deal about the future. They can make solid estimates about “expected returns” and the long term performance of markets. To a great extent, good economists know … [Read more...]
Who Is This “Wall Street” With Whom You Are Negotiating?
In Negotiating Your Investments which will be released in April, I urge that investing is an act of negotiation. If that is true, all the rules of good negotiating apply. Anyone who has studied negotiation knows that having a strong sense of who sits “on the other side of the … [Read more...]
Walk a Mile in Their Shoes
There are few things more important in negotiation than understanding the other parties. Do you really know why they are taking certain positions? What do they know, think, and believe? How are their particular underlying interests influencing their negotiating … [Read more...]
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