This weeks perspective is provided by Mike Sullivan:
My oldest son tried to catch a baseball with his nose last week. As I sit in the waiting room waiting for his surgery to end, I can’t help but think of the sage advice uttered by baseball coaches at every level — don’t take your eye off the ball. How appropriate for him. Perhaps for those in business as well.
With the recent JP Morgan $2 billion lapse in judgment, maybe more people should heed the advice of not taking one’s eye off the ball. In this case, the ball is a metaphor for sound investment fundamentals. Isn’t this mistake eerily similar to those which occurred in 2008? Too much risk for the potential reward? While it seems to be an isolated incident, it does make one wonder if we ever learn from our mistakes.
As Jim wrote in last week’s blog, we are seeing a definite increase in activity. So are others in our business. I’d like to think that buyers and sellers (and lenders) are back to focusing on fundamentals. This focus would seem to explain, at least in part, the increase in activity. Here’s hoping we all stay focused on the important “stuff”. Now if you’ll excuse me, I’m off to remind my awakening son of the usefulness of a good Rawlings glove . . .