What killed the Monitor Group, the consulting firm co-founded by the legendary business guru, Michael Porter? In November 2012, Monitor was unable to pay its bills and was forced to file for bankruptcy protection. Why didn’t the highly paid consultants of Monitor use Porter’s famous five-force analysis to save themselves?
While every great leader makes mistakes, it’s just as true that there are only a limited number of mistakes you can make before proving yourself an unworthy leader – you can only fall off the corporate ladder so many times before your climb is finished. And the higher you get, the more severe the fall; the more failure becomes unthinkable.
This is where the downward spiral can begin, of “winning” at all costs – even if it means hiding mistakes, blaming subordinates, and even lying. Simply put, at a certain level, failure is not an option. And yet, in order to succeed we need to know failure. This is the failure paradox.
Still think you can beat the market? — Financial Times
But the EMH has a problem: researchers keep discovering predictable patterns in the data, and such patterns amount to big piles of money being left on the sidewalk.The most famous of these is probably the “January effect”: that returns are particularly high in that month. The January effect was originally explained by investors selling shares in December for tax reasons, depressing prices. Whether or not this is true, the EMH says that other investors should stand ready to buy those cheap shares in December, and the January effect should simply not exist.