An interesting follow on from the post below; a speech by Prof. Deepak Malhotra to graduating Harvard MBA students in which he extols the virtue of quitting.
He also gives his opinion on the point of MBA students. Doctors are trained to create health. Teachers are trained to create education. MBAs are trained to create…value.
This sounds great for somebody like myself who wishes to be a ‘value investor’.
However, Prof. Malhotra goes on to put MBAs in to two pots; those who first create value and then reap the rewards of money, and those who reap money but don’t really create value for anyone.
Is an investor a value creator? Yes they create liquidity in the market. Yes they may make money for their partners. But do they actually create value? Its a moot point.