Notes
Argument about method.
Short pieces on how consequential decisions actually get taken, and where they go wrong. They name no company and quote no figure.
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Waiting is a decision
A board that defers a call for two quarters has not kept its options open. It has chosen the option that decays slowest, and paid for it with two quarters.
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The plan that assumed the tariff schedule
Almost every five-year plan written two years ago carried one line nobody examined: that the terms of trade would hold.
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