True colors: It’s all about character
Probably the most important decision you as investors ever have to make is about with whom to associate and work. In making those decisions, of course, it’s not about what potential partners say; it’s about what they actually do.
As noted on several occasions in past columns, you can’t “trick” or “incent” someone into aligning their interests with yours. They’re either fiduciaries, or they’re not. What it boils down to, in the end, is this: It’s all about character.
How, then, do you underwrite someone’s character?
Unfortunately, I’m not sure I can offer the definitive answer, as I’ve certainly made my share of mistakes when deciding with whom to associate and with whom I was going to work.
But I recently stumbled across the following posting by Selene Kinder at Empowering Women Now that might provide us all with some useful guidance: