Posted on 06/06/2016 7:32:38 AM PDT by Riflema
High quality global journalism requires investment. McKinsey, one of the world’s most influential consulting firms, has built up a secretive $5bn internal investment arm that manages the fortunes of its past and present partners, raising questions over possible conflicts of interest.
Known as McKinsey Investment Office Partners, it is overseen by a 12-strong board of the consultant’s most senior partners and advisers, according to documents seen by the Financial Times.
(Excerpt) Read more at ft.com ...
My company worked with McKinsey on a project back in the 80s. I found their representatives very bright with good ideas. I cannot understand what Chelsa’s contributions would have been...
My understanding is that corporate execs generally know when they need to change their business practices, but personal relationships make it difficult for them to confront presidents and vice-presidents that are making bad decisions.
So they hire firms like McKinsey to do polling, studies, etc. and just so happen to come up with the same ideas as the CEO was planning on implementing anyway. That way when they push the bad veeps to the curb they can blame it on the consultants and they can still be golf buddies.
But because the CEO was responsible for the old policies that didn't work, and the CEO is the real force behind the new policies, they most likely won't work either.
The real tragedy is that these organizations hire lots of the "best and brightest" who end up spending their careers making lots of money adding little or no value to the economy. Basically they are a legion of parasites. Beautiful young parasites no doubt, but still parasites.
My brother’s take on McKinsey and other consultants:
“The top brass brings in a consultant when there is a tough decision to be made, and they really don’t want to make it. So they bring in consultants to take the rap for them. We really didn’t want to do this awful thing, but the consultants told us that we had to.”
They are the Fall Guys with huge billable hours.
Just as well qualified as anyone who gets a no-show job as a payoff.
And, to cap it all, it looks like McKinsey gets to use whatever they learn about their clients for their own benefit. Makes you wonder - do other C-level advisers (legal, accounting, tax, HR, PR) get the same side benefits? In this day and age, and with the general lack of ethics of our elites, it makes you wonder...
What is a shipping quant fund?
Let me enlighten you - ask and ye shall receive. I just happened to have this at my finger tips when I was scoping out the Clinton Foundation(s) this morning. It gave me a big chuckle!! The whole thing is pretty good - if disgusting - reading. “Her time in the world of business” should have required anyone reading that to sit down first! This is only one article out of an abundance of articles on THE foundations.
She should want more for her children than grandparents who have been or who should be in jail. Since her own parents have no shame, I guess it’s no surprise that the word is unfamiliar to her. Can she really be THAT BLIND to their aspirations?
“”After years of pursuing other career paths, including working at McKinsey & Company and a hedge fund, Ms. Clinton, 33, has begun to assert herself as a force within the foundation. Her perspective is shaped far more than her parents’ by her time in the world of business, and she is poised to play a significant role in shaping the foundation’s future, particularly if Mrs. Clinton chooses to run for president.””
Good question. I guess the search for alpha is taking them into unchartered waters /pun
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