Executive Memoranda
Concise executive writing on judgment, governance, transactions, enterprise value, and the decisions that shape privately held businesses.
Why Every Owner Needs One Advisor Responsible for the Whole Picture
Modern enterprises possess extraordinary professional expertise. This memorandum examines the responsibility that remains with ownership: integrating that expertise into disciplined, long-term judgment.
Forthcoming Executive Memoranda
Why Important Decisions Deserve More Than Expert Opinions
Building Institutions That Endure
A Framework for Executive Decision-Making
The Assets Financial Statements Cannot Measure
Every Dollar Invested Is a Strategic Decision
Principles for Effective Ownership Oversight
Why Growing Enterprises Become Increasingly Difficult to Lead
Decision-Making When Information Is Incomplete
Why Ownership Thinks Differently Than Management
Documents are not prepared to record activity. They are prepared to improve judgment.