No matter who you are and what you do, your success relies on your ability to effectively follow up with people. Do you dread having to follow up and make up excuses to avoid doing it? It’s time to stop!
If you are a salesperson in the midst of a deal – you have to follow up in order to close the deal.
If you are looking for a new job you have to follow up to stay relevant and top of mind to the potential employers.
If your work requires you to collaborate with others in or outside your team – follow up is just part of the game.
Continue reading "Four Ways to Follow up without Being a Nag!" »
Megan McArdle, a libertarian-oriented commentator on economics, recently recalled her reaction to a proposed class-action suit of the early-2000s dealing with fast-food companies’ impact on public health. McArdle challenged an author involved in the anti-obesity cause to point to any research demonstrating that the restaurant chains’ advertising induced children to increase their consumption of fast food.
The question confused the author, who simply assumed that corporations would not spend millions of dollars on advertising unless it increased sales. McDonald’s does not, however, advertise with an eye toward convincing kids to eat more fast food. The goal is rather to persuade them to eat it at McDonald’s (NYSE: MCD) instead of Burger King or some other chain. In general, advertising is better at stimulating specific demand (brand selection) as opposed to primary demand (the decision to consume).
This point was emphasized in the mid-20th century by critics of advertising, which at that time was mired in political controversy, much as the financial industry is today. It became an article of faith among many economists that because advertising did nothing to increase overall consumption, it represented a waste of resources.
Continue reading "Should We Outlaw Advertising?" »
The following post was adapted from a chapter I wrote for John G. Taft’s new book, A Force for Good, published just this past week by Palgrave Macmillan. John is the CEO of RBC Wealth Management, and I am proud to be in the illustrious company of individuals like Mary Schapiro, Robert Shiller, Sheila Bair, Roger Martin, and Dominic Barton, who were invited by John to contribute to this book. I think you will find A Force for Good a fascinating read as it explores, from a variety of experienced perspectives, how the financial industry can marshall, for the long-term public good, the creative energies and brainpower it has deployed in the past to develop derivatives, high-frequency-trading technologies, and other engineering complexities.
Continue reading "How Finance Can Help Save Our Planet" »
Now that internal promotions are all the rage, investment banks are slower to invite people to interviews. Why hire externally when you can promote a junior with far less hassle? When you’re invited to a finance interview, it’s therefore become all the more important that you don’t mess up.
Below, we have a selection of real life interview disasters provided to us anonymously by finance recruiters who work inside and outside investment banks. Read and learn. On no account commit the same mistakes yourself.
Continue reading "Do Not Do This in Banking Interviews" »
In December 2014, the United States Court of Appeals for the Second Circuit issued what has been described as a landmark decision in United States v. Newman. In its decision, the Court vacated the insider trading convictions and sentences of Anthony Chiasson and Todd Newman, two hedge fund professionals convicted of insider trading after trial in federal court in Manhattan. The decision has been greeted by the white collar defense bar as an important repudiation of the Government’s heavy handed pursuit of insider trading.
Continue reading "Insider Trading Law After the Newman Decision: What Does It Mean to Financial Industry Professionals?" »
The following is an excerpt from CNBC:
Now that the decision has been made in Washington to reset Cuban-American relations, it’s a good time for an outside perspective on where things may go from here. Bottom line: Cuba may well become a rising star in the region and an attractive economic partner for the U.S. if things are managed well. In financial terms, Cuba will be a “buy” when the time comes. A recent visit revealed some impressive strengths buried not far below the surface.
Continue reading "What’s Next for Cuba? " »
“Should your investment commentary present a distinctive point of view?” That’s the great question posed by a participant in one of my presentations on “How To Write Investment Commentary People Will Read.”
My answer? It depends.
Continue reading "Should Your Investment Commentary Be Different?" »
Losing Your Job Can Be Less Painful—and More Productive
While it’s true that the 21st century job market is loaded with opportunities—think of 60 million Baby Boomers retiring—it’s also fraught with peril. Globalization, technology, and competition are impelling companies to do more with less money and fewer people. Those powerful forces can propel you into unemployment, no matter how smart, hard working, or effective you are.
Continue reading "From Fired to Hired" »
Returning to China for the first time in a quarter century this month was equally awe inspiring and terrifying. The observation deck of the truly gorgeous Shanghai World Financial Center is breathtaking, a fitting testament to China’s rise. But it was the unexpected sense that we might be experiencing history at DeTao Group’s summit in Shanghai, “Future New Economy: Sustainable Model Toward an Ecological Economy,” that left an indelible mark on me.
I had the honor to address the DeTao Group summit on the topic of regenerative investing in natural capital. Inspired by the vision and leadership of DeTao Chairman George Lee, it was an extraordinary experience. The warm hospitality and genuine appreciation and respect extended to all the visiting “experts” was quite exceptional. As George told me, “in Chinese culture, we honor our teachers.”
Continue reading "China: Ecological Civilization Rising?" »
Here’s a crazy fact, one that likely won’t sit well with Elizabeth Warren and other Wall Street detractors. The average bonus for employees in New York City’s securities industry actually increased in 2014 despite the fact that profit was down 4.5% from a year earlier, mostly due to embarrassing litigation costs. Though the narrative is a bit more complicated than what appears on the surface.
Continue reading "Wall Street Bonuses Are Climbing, but Not Everyone Is Smiling" »