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Fortune Favors the Prepared, and Hiring Managers Favor the Fortunate

Harvard Business Review

Simone Foxman of Quartz tells the story of a couple whose son committed suicide at age 21; Facebook gave them limited rights to their son’s content, but only after a months-long legal nightmare. The executor of your will (you had a will, right?) A 4-Point Guide to Fighting Bill Ackman Fortune. Now Ackman is out too , and Fraser P.

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Why Leaders Need to Think More Like Professional Gamblers

Leading Blog

Should they make a big bet, hedge their position, or just wait and see? Many years later, French mathematician Pierre-Simon Laplace developed Bayes’s idea into a powerful theory, which we now know as the Bayes Theorem. When faced with uncertainty, how should leaders react? Here is a simple explanation of it.

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Do Commodities Speculators Make Things Cost More?

Harvard Business Review

Markets that existed mainly for the convenience of industry have become dominated by exchange-traded funds, hedge funds, and investment banks. Commodities-trading rules and customs that date back to the pre-financial era may not fit the more aggressive tactics of hedge funds and investment banks. When economist David S.

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Could a Four-Year-Old Do What Carl Icahn Does?

Harvard Business Review

He is no Jim Simons , using his mathematical genius to outsmart the market in (to an outsider) incomprehensible ways. After using borrowed money in the 1980s and 1990s, then opening up a hedge fund in 2004, he has since 2011 basically just been managing his own money. Why’s that?

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When Good Management Is a Matter of Life and Death

Harvard Business Review

The successful CEOs in our study were hyper-vigilant about threats around them (the paranoia part) and also took action to mitigate those threats, whether in the form of building buffers or hedging (the productive part). As Nobel Laureate Herbert Simon said , "a wealth of information creates a poverty of attention."

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Millennials Are Entering a Changed Workplace. Not.

Harvard Business Review

Simons—after all, he’s been around for decades, earning and donating vast amounts of money, generally enjoying life (despite the accidental deaths of two of his five adult children), and giving Dos Equis’s “ most interesting man in the world ” a serious run for his money.

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The World Just Got More Uncertain and Your Strategy Needs to Adjust

Harvard Business Review

Our work with Simon Levin at Princeton University shows that complex dynamic systems, like biological ecosystems, economies, and companies which are able to survive and thrive over the long term, exhibit six principles that may seem counter to conventional business thinking: Redundancy. Invest in Resilience. Modularity.