82 THE INVESTMENT TEAM
- Collecting data about destinations, cost, availability, and the
like. - Imagining the perfect vacation.
- Packing and going.
- Weighing different alternatives and then choosing one.
Once participants choose the order in which they would do
these activities, they are then asked to stand with others who had
the same first choice. Four groups form. The discussion that fol-
lows explores ways in which groups can work most effectively, given
their different approaches to problem solving.Identifying Preferences
When looked at through the lens of Myers-Briggs, in the vacation
exercise the participants are subtly being asked to identify their
preferences. The data collectors have a preference for sensing (S).
The imaginers have a preference for iNtuition (N). The pack-and-
go types are more action-oriented feelers (F). The weighers of al-
ternatives are thinking (T) types. The point of the exercise is to
clearly show the participants that people go about making deci-
sions differently. Lots of time and energy are wasted in meetings
because all these different approaches are being tried simultaneously.
A better starting place is to acknowledge the different approaches
and then reach agreement on a plan of attack.
My old boss Brinson, though he didn’t know it explicitly, was
pointing out that some analysts are sensing types: really good at
digging out the data. That is their contribution. An example of
such an analyst is James Chanos. He made his reputation by dig-
ging deeper into the facts than any other analysts were willing to
go. Indeed, an article in the Wall Street Journal said, “Young Analyst
Defied ‘Experts’ and Foresaw Baldwin United’s Ills.” The article
praised Chanos for his detail-oriented approach: “Mr. Chanos08-13 ware 82 1/19/01, 1:10 PM