Chapter 06 — Insights
The quarterly journal.
Working notes from live mandates, written for people who have to decide. Published four times a year and never in exchange for an email address.
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Lead essay · Issue 14
The cost of a late decision
Most firms measure the cost of being wrong. Very few measure the cost of taking four months to be right.
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M. Ndlovu · 7 min
- 06.1Decision PracticeThe cost of a late decisionMost firms measure the cost of being wrong. Very few measure the cost of taking four months to be right.7 min
- 06.2CapitalEarnings quality before priceA multiple applied to unstable earnings is not a valuation. It is a hope expressed in arithmetic.6 min
- 06.3GovernanceBoards that actually governThe difference between a governing board and a reporting audience is usually a single page of delegation.5 min
- 06.4Operating ModelCapacity is a strategyGrowth plans are written in revenue and delivered in hours. The two are rarely reconciled before the plan is approved.8 min