Thursday Speaker - Jeff Sandefer - 3/31/11
Quote:
I never tell my kids I'm proud of them. I tell them it's a joy to be their parent. It's not my place to be proud of them, they don't live for me.
Don't ever get married because you feel like it's time for marriage
Red Flags in First Marriage
Didn't really respect her.
People aren't going to change. Look at the mother and father.
What are you scared of?
People attacking Acton in political battle due to education reform in Texas.
Education Reform:
People think he's attacking research. A&M has 3000 faculty members, 600 teach 60% of hours for low cost.
49 / 3000 brought in profitable research over last 5 years.
Approx 2000 useless people in University system.
Universities are all going out of business if they don't change in next 10 - 15 years.
Business / Investing:
Don't invest in outside businesses
Only invest in T-Bills, S&P 500, and TIPS
Defaulting on non-recourse debt doesn't damage your reputation too much
Very hard to move to a new geography without getting the bad deals right away.
Politically:
Get on the inside and never donate.
Stayed on the Think Tank side.
Donors are looked at as cows being billed.
Family:
If you're at a company that doesn't allow you to spend time with family, it's not a good company
Make a good call on your marriage.
I don't have goals or aspirations for my children.
Not going to pass along wealth to children, will pay for college.
Get $1 for every $2 they make in salary over their salary so they have to continue to work.
Prenup? - Yes
Greatest weakness:
Don't practice socratic method with employees like I should.
Not great at managing people.
Lessons Learned:
Never do anything that damages your integrity. Never stoop to a fight.
Most annoying thing about having money is being asked for money all the time
Favorite Case - Belkin