Observation

Posted on March 22, 2006

I was reading a book about risk management (”Waltzing with Bears: Managing Risk on Software Projects“) and there was this except:

“The Early Adopters were …. But Fidellity and Scwab decided to run directly toward thouse risks, while Merrill Lynch chose to run away from them. The result was that Fidelity and Schwab grew aggressively in the nineties while Merrill Lynch struggled to stay even.” more here.

One book in the references section cought by eye:

U.S Marine Corps Staff. Warfighting: The U.S. Marine Corps Book of Strategy

And this is what I found in that book:

This can mean lanching a surprise attach or it can mean getting a new product years before competition, as was the case with Merrill Lynch’s Cash Management Account [CMA] … By 1980, when asked what the future held for banking, a well respected competitor of ours said, “Look at Merrill Lynch, that’s the future.”.

So the moral is: watch what you quote, don’t predict the future and stay humble ;-).

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