Is trust just a taxi ride away?

Taxis in Hong Kong

“Henry, the investor, wasn’t keen on accepting a stockbroker’s invitation to share a taxi – a sales pitch for a whole mile, he thought. He was wrong. The stockbroker neither mentioned his firm nor any stock. He merely unknotted his tie and stuffed it in his jacket pocket. “It’s not my favourite,” he said, “but my son chose it for my birthday, so, I have to wear it.” He continued: “My boy’s ten. That’s about the age when sons suddenly realise their fathers are not superhuman after all. Mine thinks I’m a loser.” One mile later, Henry had decided that he quite liked this stockbroker.” – The Trust Mandate: The behavioural science behind how asset managers REALLY win and keep clients. Brodie & Harnack, 2018)

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The World Cup needn’t be the only gold they bring home

Despite being an Englishman, former soccer player and manager, Jack Charlton, is immensely popular in the Republic of Ireland. As manager of the national team, he led the soccer-mad nation to its first World Cup competition in 1990. He has been awarded one of the Republic’s highest honours, an honorary Irish citizenship. Cork airport even has a life-sized statue of him indulging his passion for fishing. When he goes on fishing trips to the Republic, he has been known to pay his expenses by cheque. The payees, so delighted to have the autograph of their sporting hero, sometimes never bank them. The value and, therefore, the demand for this asset can be greater than suggested by the face-value because of the signature on it. Continue reading

Underselling, Knowingly

A half-hour delay in my flight from Heathrow recently offered me some unexpected time to browse the stores at Terminal 2. I had hoped that some Christmas gift ideas would reveal themselves to me. Somewhat selfishly, however, I ended up looking for something for myself in the men’s clothing department of John Lewis’s. I lifted a printed shirt from the rail and searched the underside for the garment label. A store assistant, recognising that I need good light to see anything these days, gestured for me to move towards him where the light was better. Continue reading

Stimulus interruptus

A patient, when offered the opportunity to take a break midway through a painful medical procedure will often accept the offer. However, a spa client offered the chance to take a short break during a relaxing massage session will typically refuse. In each case, the people on the receiving end of these experiences intuitively believe that they are improving their happiness with their choices. But do they? Continue reading

In Sales, it Helps to Look the Part

Strasbourg played host to the Independent Wine Producers and Wine Fair last weekend. It was a great event: it not only gives wine-lovers the chance to sample hundreds of wines from every French wine region, it also provides an opportunity to meet the independents vintners who do the cultivating, the harvesting and the fermenting. Such encounters are often the starting point for lifelong relationships between wine producers and their customers.

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