There's an obvious bias to his writing, inasmuch as he just takes this as a given and moves on, but that doesn't mean he's totally wrong.
Solid gold, thank you. Putting Jeff aside, I prefer blogs that have a healthy amount of bias. Writing that tries to be judicious, dispassionate and balanced often ends up being dry and comes off with a pseudo-academic tone.
A little bias adds passion and fire. As long as they aren't totally wrong, that's a good thing. A while back all the big companies were "diversifying" so that their stock would become immune to the vagaries of any one market or business unit.
This was almost always a failure, because professional managers want to achieve diversification through their portfolio selection, where they can pursue their own mix and make changes by trading in the market, not through having business managers engage in lengthy and expensive M&A activity.
Blogs are a little like that: If I want a balanced read I'd rather read several different posts about the same subject than try to find one person who tries to present the centrist view.
Solid gold, thank you. Putting Jeff aside, I prefer blogs that have a healthy amount of bias. Writing that tries to be judicious, dispassionate and balanced often ends up being dry and comes off with a pseudo-academic tone.
A little bias adds passion and fire. As long as they aren't totally wrong, that's a good thing. A while back all the big companies were "diversifying" so that their stock would become immune to the vagaries of any one market or business unit.
This was almost always a failure, because professional managers want to achieve diversification through their portfolio selection, where they can pursue their own mix and make changes by trading in the market, not through having business managers engage in lengthy and expensive M&A activity.
Blogs are a little like that: If I want a balanced read I'd rather read several different posts about the same subject than try to find one person who tries to present the centrist view.