We Can't Count On The Fed To

I Am A Great Believer In The Ohio Principle: Only Handle It Once. When You Read An E-mail, Decide Whether Or Not To Reply To It, And, If You Need To Reply, Do So Right Then And There. I Have Found That About 80 Percent Of All E-mails, Whether Internal Or External, Do Not Require A Response.

We Can't Count On The Fed To Inject This Level Of Liquidity That We Saw Last Year.

From The Law Firm's Perspective, Billing By The Hour Has A Certain Appeal: It Shifts Risk From The Firm To The Client In Case The Work Takes Longer Than Expected. But From A Client's Perspective, It Doesn't Work So Well. It Gives Lawyers An Incentive To Overstaff And To Overresearch Cases.

There Are People Who Literally Cannot Start A Project Until The Deadline Is Four Hours Away, Even If It's A Big One. And Those People Have A Serious Problem. My Recommendation Is Set Up Mini-deadlines. You Might Say, 'okay, Here's My Deadline After Three Days For This And There's Another Deadline For That And Then A Third Deadline.

You Have Various Institutions Like Law Firms And Accounting Firms Which Bill By The Hour. I'm Really Against That. You Have An Incentive To Go Slowly, Be There As Long As Possible, To Over-research Things And Over-staff.