The Cause of Bad Proposals?
Imagine you are the CEO reporting to your Board of Directors at next quarter’s Board Meeting and you present the following:
“During the past three months Vague and Foggy, Inc. invested in four lots of lottery tickets at $10,000 each. We bought 10,000 tickets for a total of $40,000 and thought we had a very good chance of winning more than $3M. However, to date we have only won $3.00 on one ticket. Therefore, next quarter we plan to invest in six lots to improve our chances of winning.” Continue reading “The Cause of Bad Proposals?” »