126 THE CREATIVE INVESTMENT TEAM
hours of sleep. Despite all the successes that I’d experienced per-
sonally and heard about from others, I kept thinking, “This will be
the one time it doesn’t work.” But true to form, Open Space did
work. The participants rolled up their sleeves and got right to work
addressing and resolving the issues that most concerned them. The
degree of honesty was surprising and refreshing. Here are some
comments from participants at the meeting:“[A]n effective way to take controversial issues and deal with
them in a constructive and creative way.”
From the leader: “I didn’t know what to expect, but this pro-
cess really helped get people focused and motivated. We had
lots of good discussions and made progress on key issues.”The literature on Open Space now contains 10 years’ worth of data
and many success stories from major companies such as US West
and Boeing, as well as government, not-for-profits, and religious
organizations.
What is the point of bringing up Open Space in a book about
investing? Just this. Despite many inquiries to practitioners of Open
Space, I have yet to find one that has worked with a major invest-
ment firm or investment club. Given that information and rigor-
ous discussion are the lifeblood of successful investment decisions,
it strikes me as unusual that this process has never been employed.
Furthermore, the four conditions required for Open Space seem
ideally suited to the investment field:- Complexity. The problem being addressed must be complex
and multifaceted. Isn’t this the very nature of the markets?
The mix of so many variables and so many approaches to
valuation and asset allocation is the core problem that in-
vestors face. - Adversity. There must be different interest groups to bump
up against one another. Well, by definition, any investment
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