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July 2nd, 2009 at 3:35 pm
I was recruited from my second-last employer to a financially focused hedge fund. I turned them down, because the founder would drive me nuts — hyperactive in the extreme. One of his main selling points for investing in the financial sector was that above graph through 2005… it was the best performing sector. I pointed out to him that leverage had risen considerably over the period, and asset quality had decayed. The founder wasn’t too happy with that insight.
It’s good to work with people who won’t drive you nuts. As I have gotten older, maybe I have gotten a little better at turning down opportunities that won’t work.