Tue, Sep 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Book review: 50 laws for keeping it real

Friday, September 05, 2014

amb
Ian Morley
Benedicte Gravrand, Opalesque Geneva:

Ian Morley, a veteran in the alternative funds industry and the founding chairman of AIMA, published a book this year that is a signature of his professional personality. Mixing wit, irony and common sense, he exposes some of the main foibles of fund managers, investors, heads of business, consultants and journos in "Morley’s Laws of Business and Fund Management" (available on Amazon, Waterstones, Book Depository and other outlets).

There are 50 laws, each taking up a page and written in an easy and succinct style, and each with an accompanying cartoon for further glee, making the book an enjoyable read of home truths and advice.

With common sense and shrewdness, he sheds light on some common errors and assumptions that all industry participants could be guilty off.

For example, he warns on collective self-delusions or hypocrisies, such as changing benchmarks or not giving the full picture with regards to numbers, and points to the dangers of arrogance and obstinacy. He challenges common beliefs and their misuse, as for example the overuse of diversification. He even brings in consultants, or rather the mishandling of them, as they are at times used as scapegoats or to confirm what one should already know (he is currently Chairman of Wentworth Hall Consultancy).

I particularly liked Law no. 38, about The Economist. To quote the first paragraph: "If The Economist was writing a lead article about Genesis, the fir......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  3. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N

  4. Artificial intelligence may replace 40% of all jobs: Bridgewater founder Ray Dalio[more]

    From Foxbusiness.com: Bridgewater Associates founder Ray Dalio said Friday that almost half of the jobs in the next two decades will be replaced by artificial intelligence. "By in large, the world is going to largely consist of people who can take language and put it into code, which then allo

  5. Former management team of Sprott Asset Management launches Ninepoint Partners LP[more]

    Effective today, SPR & Co LP, the company created to assume portfolio management of the Canadian diversified asset business of Sprott Asset Management LP, has been re-named Ninepoint Partners LP. The rebranding completes the transition initiated with the August 1, 2017 management-led buyout of the d