Objectives

Thomas Meyer
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Thomas Meyer: LDS Partners

Chapter Chapter 10 in Private Equity Unchained, 2014, pp 105-110 from Palgrave Macmillan

Abstract: Abstract Perhaps it is surprising that so far we have not touched upon the question of objectives. For Clausewitz, the objective is the first principle of war as all else flows from it. The same is often considered to hold for investment strategies — identifying objectives, what one wants and, crucially, what one does not want, as well as any underlying constraints, such as tolerance ofrisk.1 For investment managers, the objective defines the common purpose and gives direction to their activities. Guy Fraser-Sampson argues that objectives must be precisely laid down so that there can be no possible misunderstanding, as they are the yardstick success will be evaluated against. He goes on to criticise that answering this basic question was exactly what most of the world’s investors neglected to do. The inability of decision makers to frame tangible and obtainable goals is often observed and viewed as a deep-seated strategy failure.

Keywords: Pension Fund; Private Equity; Fund Manager; Asset Class; Portfolio Company (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-28682-6_10

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DOI: 10.1057/9781137286826_10

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