Ace Greenberg does almost everything better than I do-bridge, magic tricks, dog training, arbitrage-all of the important things in life. (Warren Buffet)
Make decisions based on common sense. Avoid the herd mentality. Control expenses with unrelenting vigil. Execute the fundamentals. Free your motivated, intelligent people from the chain of command. Hire PSDs. And stay humble, humble, humble.
These are just some of Alan C. Greenberg's management truths. And they've served him and his company well. Since taking over as chairman 18 years ago, this cigar-smoking, shirt-sleeved trader has helped transform Bear Stearns into one of the most profitable investment banks in the world.
And one way he's done it is through the judicious use of memos that inspire, exhort, and coax is colleagues on to ever-greater efficiency and prosperity. Now, after gathering a reputation in financial circles over the years, Ace Greenberg's wise and often humorous messages are collected in Memos From the Chairman, where they combine to create a unique management philosophy.
Focused, simple and sane, it's a philosophy that will benefit everyone in business, from Fortune 500 CEOs, to middle managers, to entrepreneurs.
