The Psychology of Money - An Investment Manager\'s Guide to Beating the Market

(Grace) #1
142 THE CREATIVE INVESTMENT TEAM

truths. The emphasis is on honesty and acceptance. Participants
are encouraged to make “I” statements, from their own experi-
ence, rather than “we” or “you” statements. (When you use a lot
of “you” statements, eventually you don’t know whether you means
you or I. Confusing, isn’t it?)
Confidentiality is important to feeling safe. This turned out to
be another sticking point in the investment diversity experience.
When asked if the group would respect the confidentiality of the
discussion, a lawyer (bless his litigious heart) said, “You can’t
guarantee anything here. None of these agreements are legally
binding.”
When I asked him what he meant by that comment, he said, “I
don’t assume for one second that what I say in this room is going
to stay here. So it’s pointless to have a confidentiality agreement.
There is no way to enforce it.”
Do you think his comment warmed or chilled the room? Can
you say “ice water?” People wrapped themselves a little tighter in
their armor. Am I saying that people should never be on guard?
Not at all. There are a million situations in life where one needs to
be protective and wary. My point is that the level of creativity will
vary proportionately with the feeling of safety that exists. Trust
and respect are important—and not just in personal growth groups.
It is critical to competitive teams as well. The fiercest competition
of all takes place in professional sports. (Well, except for parking
spaces during the holidays.) Nevertheless, Phil Jackson, ex-coach
of the Chicago Bulls and six-time world champion, in Sacred Hoops
(Hyperion 1995), recommends the same principles that I am sug-
gesting for effective brainstorming:

Another important aspect of what we do is to create a supportive
environment for the players where they feel secure and free from
constant scrutiny.... In order to build trust, the players need
to know that they can be open and honest with each other, with-
out seeing their words in the paper the next day.

14-25 ware 142 1/19/01, 1:14 PM

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