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We get a lot of mail. Some of it is the most thought provoking of our day.

Attached below is a note we received from a subscriber friend. He’s a veteran hedge fund manager, a thought leader, and one heck of an American.

We can change this business for the better, but we have to be the change we want to see out there every day.



Keith –

So here we are again - another "leader" (notice the small "l" and quotes) willfully blind to reality, unable to hold up a mirror to see his/her own face as responsible and to compound the first 2 errors, capable of mustering misguided audacity, as a victim, to try and call out someone else as responsible for their own mess.

This situation seems to repeat with alarming regularity these days and made me think about why.  I will continue to think it through but two thoughts that come to mind are: a) consistent under-funding of education has created an electorate (here and abroad) largely incapable of critical thinking to see the vacancy in the arguments these leaders put forth; b) the race for the victim seat in the early stage of any event is intense because the party that gets that seat gets to frame the discussion to meet their ends (which are often unclear but certainly include not being held accountable). 

So what is to be done?  Accountability has to make a comeback and more people must be spoon-fed the framework of real counter arguments in hopes that the remaining critical thinking energy left of the planet can gather enough momentum to create conditions where accountability retakes the field.

Which leads me to a better understanding of the value of your call-outs - by name and in quotes of all these dopes.  The more sunlight these guys get the better for all of us.  Keep it up as this battle is waged!

Have a good weekend. -


Leadership Note of The Day - Orb


Keith R. McCullough
Chief Executive Officer