5 Things I Learned from the Most Successful Money Managers...

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My learnings come from a career working for a large data and information service provider and then some of the most successful money managers in the world. Here are the Top 5 Things that have stuck out to me over the years:

• Networking- The power of the network. The network is everything. Your network is your information source, it’s your opportunity, and the most successful people I have worked for and with have the strongest networks.

• Risk- Eventually you have to take a risk. You have to take your shot. An opening or opportunity will present itself to you and those who take the risk are rewarded. Risk-taking has to be calculated, but it is the key to larger success over time

• Hiring- Hire people smarter than you. People who can execute. Surround yourself with people who are constantly pushing you to the next level and making you stronger.

• Culture- Figure out the culture you want for your team and organization and make no sacrifices. Make sure everyone is bought into the culture and is the right culture fit. If culture doesn’t work or isn’t established, then there will be problems.

• Business- At the end of the day it’s a business. Tough decisions have to be made. The toughest decisions are the ones that are personal and at the end of the day, you have to remember this is a business.

There are arguably dozens of other insights and learnings that I have taken away over the years, but these 5 continue to be some of the most important learnings. For each of these 5 points, I can think of specific stories, both good and bad, that have helped shape in my mind why they are so important.