Nine times out of ten, I'm trying to meet someone else's expectations, whether it's the director or the writer or the animator, when I go back in to re-record a line. I'm the icing on the cake, but the cake is the thing. I'm really just a hood ornament on a very solid vehicle.
We're coming off a quarter here that was in-line with our expectations, but much lower at WPZ due to Geismar's extended outage and a continued heavy capital investing period all as was expected.
I didn't listen to half of the criticism I received. I just didn't let it enter my brain. It affects people around me, but it was my job to see through that. When you are in charge of a top club, where expectations are high you have to deal with that.
Those reliable axioms about the taste and expectations of the mass movie audience are not so much laws of nature as artifacts of corporate strategy. And the lessons derived from them conveniently serve to strengthen a status quo that increasingly marginalizes risk, originality and intelligence.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.