decide based on who makes the most profit/acquires the most fungible resources
...within some period of evaluation. That’s how you get Jack Welch hollowing out GE. That’s how you get managers who raise profits by cutting out maintenance and training, and hope to get promoted fast enough to outrun the resulting problems so they can blame their successor.
The most famous example in the financial world is RenTech
Their main fund results are not nearly as good, but they got investment largely using their famous internal-only Medallion fund as advertising. I’ve seen some people say that famous Medallion fund got much of its good returns by sacrificing their main fund performance, by doing trades then deciding which fund those belonged to post-hoc.
There’s also a lot of insider trading going on at big hedge funds, which is totally legal as long as you pool transactions together such that you only ever don’t do transactions based on insider info. What’s illegal is doing transactions based on insider info. That’s part of why you see siloed trading groups so often.
...within some period of evaluation. That’s how you get Jack Welch hollowing out GE. That’s how you get managers who raise profits by cutting out maintenance and training, and hope to get promoted fast enough to outrun the resulting problems so they can blame their successor.
Their main fund results are not nearly as good, but they got investment largely using their famous internal-only Medallion fund as advertising. I’ve seen some people say that famous Medallion fund got much of its good returns by sacrificing their main fund performance, by doing trades then deciding which fund those belonged to post-hoc.
There’s also a lot of insider trading going on at big hedge funds, which is totally legal as long as you pool transactions together such that you only ever don’t do transactions based on insider info. What’s illegal is doing transactions based on insider info. That’s part of why you see siloed trading groups so often.
Huh? I’m explicitly not ‘worshipping’ them. Did you skip reading the latter half of my comment?
I’m pretty sure most passing readers will already interpret ‘mis-hire’ and ‘mis-promotion’ as implying some degree of destructive efforts.