UK: Heller on Management - Why bears weed out the weak.
UK: Heller on Management - Why bears weed out the weak. - In upturns, managements, like King Canute, pretend to be in control. In downturns, however, the covers of self-deception are stripped away, says Robert Heller.
In upturns, managements, like King Canute, pretend to be in control. In downturns, however, the covers of self-deception are stripped away, says Robert Heller.
Bull markets generate bull companies. Soaring shares and rising profits create inflated corporate and managerial reputations, which adversity often reveals to be a 'load of bull', as Americans say.
