I seek to be authentic and engaging, using my own experiences, being as vulnerable as I ask my clients to be, to enhance the process.
A complaint is a unique opportunity to strengthen the relationship with the client.
A lot of my clients say they don't deserve to mope about their sad little memories while children are starving in India. I say that just because your broken arm isn't as serious as someone else's gut wound, that doesn't mean your injury isn't excruciating or doesn't require attention. If you want to help the Indian children, or make the world a better place in any other way, you have to start by becoming whole yourself.
I studied law, and I was ready to be a lawyer in my country (Italy). Probably it is better for many clients that I changed my direction! But I was happy to study and I was a good student, I finished my studies. And everything that you learn is useful in life.
The line between pride in our work and neurotic obstinacy is a narrow one. We make our recommendations clear. But we do not grudge our clients the right to the final say. It is their money.
We exist to build the business of our clients. The recommendations we make to them should be the recommendations we would make if we owned their companies, without regard to our own short-term interest. This earns their respect, which is the greatest asset we can have.
We like people who are honest. Honest in argument, honest with clients, honest with suppliers, honest with the company - and above all, honest with consumers.
Never talk to a client about architecture. Talk to him about his children. That is simply good politics. He will not understand what you have to say about architecture most of the time. An architect of ability should be able to tell a client what he wants. Most of the time a client never knows what he wants.
In all proper relationships there is no sacrifice of anyone to anyone. An architect needs clients, but he does not subordinate his work to their wishes. They need him, but they do not order a house just to give him commission. Men exchange their work by free, mutual consent to mutual advantage when their personal interests agree and they both desire the exchange.
As a guide to engineering ethics, I should like to commend to you a liberal adaptation of the injunction contained in the oath of Hippocrates that the professional man do nothing that will harm his client.
Having money hasn't changed me. If anything it's made my life worse. People come up to you who knew you before you were famous and who didn't come up to you before. I'm a clever designer. I can do what the client wants. But I'm prepared to forget about money if it affects my creativity because, remember, I started off with nothing. And I can do that again.
O Mother of God! If I place my confidence in thee, I shall be saved; if I am under thy protection, I have nothing to fear; for the fact of being thy client is a possession of a certainty of salvation which God grants only to those whom He intends to save.
The servants of Mary are as sure of getting to Paradise as though they were already there. Who are they who are saved and who reign in Heaven? Surely those for whom the Queen of Mercy intercedes ... The clients of Mary will necessarily be saved.
Angels constantly guard the clients of this Blessed Virgin from the assaults of Hell.
I am my clients. I am defined by who I do business with.
Time and again-from the collapse of the Soviet Union to the events of 9/11 to the onset of the Arab Spring-events have caught the experts, whether in government or on the outside, completely by surprise. Business owners with comparable performance records go bust. Brokers lose their clients. Physicians get sued for malpractice. Yet think-tankers and policy wonks continue to opine, never pausing to reflect on-or apologize for-their spotty records.
The child welfare system - devised and run by liberal social workers, psychologists, and judges. . .Treats incompetent or abusive parents as its clients, and only secondarily considers the needs and well-being of the children involved.
As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to our clients for a quarter century-a dollar invested at inception in our largest fund is now worth over 94 dollars, a 20% net compound return. We have achieved this not by incurring high risk as financial theory would suggest, but by deliberately avoiding or hedging the risks that we identified.
The pure administration of Graham-and-Doddery really needs a long-term lock-up like Warren Buffett has, or it will have occasional quite dreadful client problems.
When you buy bargains and they become better bargains, it is easy to start to question yourself, which can impair your judgement. Real or imagined concerns about client redemptions, employee defections can greatly influence behavior away from rational.
I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine. He said, "What these other accounting firms have done is very unethical. The [tax avoidance scheme] works best if it's not found out [by the IRS], so we only give it to our best clients, not the rest, so it's unlikely to be discovered. So my firm is better than the others." [Laughter] I'm not kidding. And he was a perfectly nice man. People just follow the crowd...Their mind just drifts off in a ghastly way.
You'll better understand the evil when top audit firms started selling fraudulent tax shelters when I tell you that one told me that they're better [than the others] because they only sold [the schemes] to their top-20 clients, so no-one would notice.
You just work really hard and scrutinize. What is it called in politics? "Opposition research"? You want to do the detective work on your client so to speak before your opponent can dig it up. We're vetting everything thoroughly.
Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.
At the worst possible moment, when your fund is down because cheap things have gotten cheaper, you need to have capital, to have clients who will actually love the phone call and-most of the time, if not all the time-add, rather than subtract, capital.
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