Hyde Park Asset Management...more down to earth than previous names!
Friday 8 May 2009
John Duffield is staging an comeback with the launch of his third investment group, Hyde Park Asset Management, from the shell of the recently imploded New Star says the Telegraph.
“When asked a few years ago what motivated him to keep working at New Star at his age, he answered: "I suppose it is just to prove that one is able to do whatever one is attempting to do - in my case build up another successful fund-management company. There is also an element of 'what else would I do?' I would go home, watch television and be dead in a year."
I find the words used interesting…what is the definition of a “successful fund management company?” Without doubt Duffield has made himself and some staff rich, but what about the investors money his company manages…has he been successful for them? I am reminded of the book "where are the customers yachts" Fred Schwed. Jr., Where Are the Customers’ Yachts? (1940)
An out-of-town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery, one of the guides indicated some handsome ships riding at anchor. He said, “Look, those are the bankers’ and brokers’ yachts.” The naive customer asked: “Where are the customers’ yachts?”
There is nothing like the power of the good anecdote to focus the mind. Sometimes the anecdote is so striking that it comes to be a root metaphor, shorthand for some basic insight or understanding. The Customers’ Yachts story is just such anecdote. We laugh at the (supposedly) innocent question, “Where are the customers’ yachts?” because we know that the bankers and the brokers are supposed to be serving the needs of their customers and yet, surprise, the ones providing the service seem to get more out of the relationship than the served.
posted by Murray Round Wealth Management @ 16:02,
The Authors
Nicholas Round
Nic is the Managing Director of Murray Round Wealth Management Limited, who seeks to ensure the advice provided is truly independent. Based in Shropshire with clients local, national and worldwide, Nic has strived to find the best possible service for his clients needs, by researching and studying the market, trends and philosophies. Nic strongly believes Asset Class Management will bring his clients Financial Freedom, Independence and Happiness.
Kirsty
Kirsty is our communication guru. Managing information requires considerable due diligence and her passion for organisation gives the clarity we all seek. From Shropshire, with a Psychology Degree and much travelling, she is now back in Shrewsbury...and London often, keeping us all at Murray Round focused.
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