The Memo by Howard Marks cover image

The Rewind: Dare to Be Great II

The Memo by Howard Marks

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Putting Too Little Mustard on Your Second Serve

If you make a bold decision and it fails, then you get fired. And these things tend to militate against risk taking. You can't get risk taking behavior from an organization that penalizes error. The penalty for error exceeds the reward for success. It's really a great challenge. I believe that i've seen it in action for too many decades not to mention it. Unbearable outcomes, intolerable outcomes, you shouldn't take.

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