Bias for action. Gets things done. Go-getter. Traits companies big and small look for. And for good reason, you're being hired to do things! However, action is a secondary step that often overshadows the primary step, direction. Clear direction is the foundation that enables our actions to takeoff. Without it, we're stuck in the mud. Striving for clarity is an underrated skill. Having the courage to ask ( seemingly ) obvious questions, and to check in, making sure we're all on the same page. "O bvious " questions are a low risk, high reward way to add value. At worst, you'll add confidence to our actions. At best, you discover a misalignment that saves us from a dead-end. The more people, the more clear we need to be. The bigger the initiative, the bigger the risk of reaching the finish line, only to realize expectations were off. Success is always uncertain. But we can be certain about what we want and what everyone's job is. Things that can be clea
We saw a bit of red in the markets this week. The S&P 500 was down about 2%. Not a huge drop, but after seeing mostly green for a few months, even moderate losses are jarring. We got used to winning. The drop was largely attributed to a rise in interest rates. Similar to its relationship with bonds, interest rates and stocks tend to move in opposite directions. When rates go up, stocks fall (and vice versa). This is broadly speaking of course. There's no exact way to explain stock movements, especially in the short term. Too many factors at play. Alas, the logic is generally sound. When interest rates rise, money becomes more expensive. For businesses, the greater borrowing cost eats into their earnings. Reduced expected earnings trickles down to reduced stock prices. For investors, when safe assets start yielding more, they become an attractive alternative. Low rates meant stocks were the only game in town. Investors would rather take a chance with stocks than earn nothing w