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To: jeffbas who wrote (3767)4/6/1998 2:57:00 PM
From: peter michaelson  Respond to of 78535
 
Jeffrey -

To add to this important point, we can't know, usually, whether management is good or bad, lucky or unlucky, good self-marketers or not.

In fact, we can't know whether we are able to evaluate management - it is quite subjective, I think. Past performance is no guarantee.

Management is quite portable, as well.

I used to be in the business of buying businesses. Only after truly working directly with managers over a period of months, even years, would their quality - as far as creating shareholder value - become evident .

peter