Thursday, November 13, 2008

Said Eve to Adam: Your Senses, How They Sparkle, and My, What Huge Drive You Have!

“I think one of the significant issues of this business that we are all struggling with is that there is an inverse correlation between compensation and drive,” said Mark W. Yusko, president of Morgan Creek Capital Management, an investment advisory firm. “In many cases the incredible wealth that is created by this incentive compensation structure has a propensity to dull the senses and dull the drive.”

Okay, now I really get it. Instead of feeling a twinge of envy for the disproportionately large compensation of hedge fund managers, it's an opportunity to revel in our sparkling senses and overabundance of drive.

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