With management and employees on the same side of the table, your interests are aligned, and shareholders look at you as one.
Management is not about shouting and bawling, because some guys will not like that. They take it personally.
Assessing management quality is clearly one of the most important aspects of an investment decision.
Exploration is the easiest cost to reduce for a management team, it only bites you back a few years later.
It's a very different skill, the risk management tools, the governance tools, the oversight tools are simply just not there.
A lot of management teams are reluctant to let management teams interface with shareholders.
Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall.