BP Stock And The Ghost Of Texaco

When people talk about the checklist of elements that make for a good investment, one of the things you will invariably hear people say is this: Good management. Find companies that are being run by intelligent, forward-thinking people that can anticipate what will come and the risks posed in the future, and you will do well knowing that you entrusted your capital to good hands. The problem with this? A lot of times, talking about good management is a mere platitude and not something that you can actionably make decisions based on—if you visit a corporate website, you will see a lot of people looking regal in their suits accompanied by a list of impressive-sounding academic credentials coupled with two decades of jobs sounding like they involved a lot of responsibilities.

As a forward looking measure, it is difficult to tell the difference between—to use an example—Procter & Gamble’s management … Read the rest of this article!