It's fascinating how differently the same business can perform with two different leaders. We look first for intellectual honesty. It drives me crazy when you meet management and there are real issues and they act as if they aren't there. Also important is a contrarian bent, a confidence to go against the prevailing trend. You want people who are spending when others are not, and taking chips off the table when everybody else is putting them on.
Source: Value Investor Insight's Words of Wisdom
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