Shawarma Capital by Nizar Alshubaily
A very interesting and novel piece by Nizar Alshubaily was written as a sequel to an equally brilliant piece by the same author. I’m extracting a few of my favourite lines, but the full article can be found here.
Countless firms no longer have the financials on their web sites and you have to register to request them. I had myself and 4 of my friends register with one and we have had no success so far. Far be it for me to assume that their financials are a disaster. Where one firm were making a least some attempt at financial transparency by disclosing their defaults the management being interviewed on television couldn’t remember the total amount of default involved, they said they didn’t have that number immediately available.
Of course let us not forget the ever increasing number of CEOs who have suddenly left their organizations “for personal reasons”. One company claimed its CEO resigned to concentrate on more personal issues relating to spending more time with his family. Three months later his picture was in the paper as having become a CEO of another company. I feel sorry for his family; I guess they now know their dad thinks they’re boring.
Denial. Some call it The Ostrich Effect, an aversion to receiving negative information. If you don’t talk about it, it hasn’t happened; it will just go away on its own. It is based on the myth of the Ostrich burying its head IN the sand to avoid danger. Not true, the Ostrich places its head ON the sand to relax its neck muscles and hide from predators. Why so many otherwise intelligent people still use this analogy is beyond me. If the Ostrich buried its head, it would die from lack of air.
Once again, the full article can be found here.
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