I either delegate something, I dump it, or I deal with it.
Consumer groups fought hard to provide investor protections for 'special entities' such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.
Main Street investors, who cannot trade credit default swaps, should not be tempted to trade an instrument with the same risk profile simply because it has been given a different name.
I believe that Detroit has a terrific geographic position. It still is a hub of one of the most important industries in the world. There's incredible engineering and other talent.
I believe we're all endowed with a very small set of narrow skills that make us unique. You've got to find what that is. Most often what you truly understand makes you unique is something that you're also going to build passion around.
Nothing replaces real-life experience. Of course, I say this as someone who went to law school.
People who work with me say I have a four-step response to new ideas: rejection, reconsideration, acceptance, ownership. I need to listen more patiently.
My time is focused on family and work. I need to find a way to spend more time with my friends - and cycling.
I ran the effort to bring the 2012 Olympic Games to New York City. We lost - on a global scale. To my surprise, life went on, and I learnt that nobody cares about your failures as much as you do.