“Venture capital is a tail-driven business… Make 100 investments, and almost all of your return will come from five of them; most of your return from one or two.” So begins a brief but profound posting on Morgan Housel’s “Collaborative Fund” site. Turns out that “long tails” characterize a lot of other things in life besides venture capital.
Take a moment for this short article “Tails, You Win” and the wisdom of “failing well” plus some links to other interesting articles for every C-Level executive.
Note: Mr. Housel’s book “The Psychology of Money: Timeless lessons on wealth, greed and happiness” is a must read for anyone about the “what and why” of your financial life, which will help you make better choices on the “who and how” of a financial plan.
(My thanks to long time Vistage-St. Louis Member Lou Helmsing, CEO of Craftsmen Utility Trailer for making me aware of the article and the book).
