Kitchen Nightmares – Wall Street Style

Posted by

I have a new post up today over at Registered Rep I think you’ll like, especially if you’re a Gordon Ramsey fan…

One of my favorite shows on television is Kitchen Nightmares with Gordon Ramsey. I like it so much I’ve seen every episode of the US version that airs on Fox, then I found all the original UK episodes that air on the BBC from time to time and I DVR’d those as well.

Aside from the fact that I’m really into food and restaurants, I think the show’s real appeal lies in the simplicity with which a business can be turned around – once the people involved are shown how ridiculous they are. Chef Ramsey breaks down owners and chefs, forces them to face the fact that the problem is not the customers, the economy, the neighborhood or the staff. The problem is the owners and chefs themselves. (Also, Ramsey has awesome hair.)

When I watch the show, I can’t help thinking about the obvious parallels with running an asset management or investment advisory practice. The restaurant lives and dies by the quality of its product (the food), the service and ambiance, and its ability to satisfy old customers while enticing new ones. You could say the same about any financial practice that deals with the public – quality of advice, alacrity of service and customer satisfaction are the keys to running a money management firm – everything else is just conversation.

Source:

Practice Nightmares (Registered Rep)

 

 

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. Digital transformation commented on Feb 03

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2012/02/28/kitchen-nightmares-wall-street-style/ […]

HowIInvestMyMoney