The maggot story
One of my favorite lessons from Wharton has less to do with business and everything to do with people and how they perceive themselves. Two maggots are sitting on the rear bumper of a garbage truck when its wheels strike a pothole,…
Category: Truisms in Finance
You invest on your own
In medicine, doctors must abide by the Hippocratic Oath, often summed up by a phrase from The History of Epidemics: “first, do no harm.” In law, the rules of professional responsibility require lawyers act in the interest of their clients. In finance,…
Why scammers flock to Wall Street
Willie Sutton, a prolific bank robber in the 20th century, was famously, if erroneously, credited with a famous quote. Asked by a reporter why he robbed banks, Sutton supposedly answered “because that’s where the money is.” The message stuck, generating a principle…