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Entrepreneur Advice:
Paul Kedrosky
paul.kedrosky.com
   
About Paul Kedrosky

Dr. Kedrosky is currently the Executive Director of the William J. von Liebig Center in San Diego, California. Using an innovative seed capital program, the Center catalyzes the commercialization of technologies from the internationally-ranked University of California, San Diego. Dr. Kedrosky is also a venture investor with Ventures West, Canada's largest institutional venture capital firm, where he is most active in consumer technologies and software. He is currently on the board of Marqui Corporation, a marketing automation software company.



Recent Article:

Be It Resolved, Analysts are Worthless - For more on Paul Kedrosky visit paul.kedrosky.com

The following email from the head of global equity research at HSBC (my long-ago employer) to London analysts is being called, at least in the U.K., crass and demotivating. I have to confess, I don't actually find it all that troubling: More than a few analysts that I used to work with could have used some tough talk:

Gentlemen I am receiving calls of complaint from the sales and trading desks in London on a daily basis about the lack of product in London. We have dropped from what was already an unacceptably low average of around 30 pieces of research a week accross [sic] Europe - to a number that is less than half this average. Moreover, the mix - as I have indicated earlier - has become predominantly worthless flashnotes.

THIS IS COMPLETELY UNACCEPTABLE No good analyst needs to be pushed like this - most are self motivated and interested in driving their external market values. As tram [sic] leaders and managers, you have to take responsibility for you [sic] teams and for their motivation and production levels - this is what we pay you for.

As I look at the department today I have no concerns about meeting budget expectations at year end - one reason for this view is that many of tour [sic] analysts, and team leaders do not deserve to be paid this year.

Take some responsibility and push your teams. With the success we are having with Bangalore - we have no excuses with regard to resource.

I am in London on Thursday and Friday of next week and am happy to talk this through in more detail with any of you. I am also available early Monday morning and some times on Tuesday by phone as I travel to and from Mumbai.

Graham

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