“Excellence is a Warped Ambition”

This declaration was part of a justification on the part of Greece’s Education Minister, Aristides Baltas, for his plan to return control of Greek universities to students.

This may work for Greek higher education, or not, but investors would be well advised to continue to carefully consider management when committing funds.  The importance of management in projecting corporate success has been well established and the capabilities of such legends as Steve Jobs, Bill Gates and Warren Buffett, to mention just a few, are well known.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA®