The Secret to Long Term Investment Success
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Arthur Steinmetz, Chairman, CEO & President of OppenheimerFunds, addressed the Detroit Economic Club Thursday, March 30, 2017, and touched on a variety of topics including taking a long-view approach to investing and running a business.
“As a business leader or a business owner, you have to be forward-looking,” said Steinmetz. “Yet I am also very wary of my ability to forecast the future because it is a fool’s errand in many cases. If you are running a business, and I say you can’t predict the future, where does that leave you? You certainly can understand where the wind is blowing and pay attention to trends and prepare for that and also recognize that as your circumstances change you have to adapt. If a new competitor enters the marketplace or whatever that happens to be, you do of course have to shift to adapt, which is not necessarily a prediction though. You have to be forward thinking and understand the business context.”
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Alan Whitman, CPA
Chairman & CEO