entrepreneurship strategy

How These Women Investors Crushed It In 2020

In an investment industry known for big egos, overconfident analysts and “activists” who routinely tell CEOs how to run their companies, investor Nancy Zevenbergen and her team of four portfolio managers differentiate themselves by simply listening.

Zevenbergen, 61, founder of $5.7 billion (assets) Zevenbergen Capital Investments, believes the crucial job of an investor in today’s economy is to uncover the next great entrepreneur or technological innovation early on. The style is about “optimism and a view toward what the future might be,” she says. According to Zevenbergen, her task is to be curious and “understand the ‘crazy’ visions of new leaders and become investors alongside them.” If she likes a company, her Seattle-based firm will load up and watch from the sidelines, tracking the business patiently and holding their shares so long as growth doesn’t stall. Rarely do they worry too much about valuation.

This humble approach to investing has yielded results that make Zevenbergen among the best investors in the world. She has stuck by mercurial Elon Musk and owned Tesla for about a decade; Tesla’s stock is up 730% this year, and is the top performing stock of the ten years. She discovered Ottawa, Canada-based ecommerce company Shopify and its founder CEO Tobi Lütke in late 2016 when it was trading below $50; it now trades for $1,170.

Last September, Zillow chief executive Rich Barton decided the real estate platform would begin buying homes, leading to complaints from skeptics who sent its shares cratering 20% to below $30. Zevenbergen’s team liked Barton’s experimentation and built a large position. Fifteen months later, Zillow now trades for $140.

Nancy Zeverbergen — Seattle-based Nancy Zevenbergen calls investing with a less than five-year time frame “truly speculative.” Case in point: She’s owned Amazon since it traded in the $60s and still holds shares after a 90-fold rise. Tim Pannell for Forbes

With stock-picks like these, Zevenbergen’s Innovative Growth Fund (SCATX) and Genea Fund (ZVGNX) are up a staggering 126% and 154%, respectively, in 2020. Of over 1,000 peer funds tracked by Morningstar, the two mutual funds rank in the top percentile.

Zevenbergen created her firm from her living room in the late 1980s with just $500,000 in assets while she nursed a young child. Her flagship strategy has beaten the S&P 500 Index by around four percentage points annually since 1987, but 2020 was a watershed. Assets more than doubled soaring towards $6 billion, based on performance and inflows to her mutual funds.

Zevenbergen is not the only woman fund manager who has crushed competition in 2020. Forbes found at least a half a dozen firms led by women-led funds that have blown away their peers and drawn in tens of billions of dollars in assets collectively since the start of January.

Cathie Wood, founder of Ark Investments, had the best year of anyone. In 2014, Wood, 65, created Ark with the idea of packaging stock-picking into tax-efficient exchange traded funds, and focusing exclusively on breakthrough innovations in genomics, robotics, financial technology, autonomous driving, digital services, and artificial intelligence.

Six years later, Ark manages nearly $44 billion in assets, up from just $300 million at the end of 2016. This year, Ark funds have pulled in over $10 billion in new assets, led by extraordinary returns. Her flagship Ark Innovation Fund (ARKK) has seen assets soar to $17 billion, fueled by a 154% gain in 2020 and a 46% average annual return over the past five years. Her $6 billion Ark Genomic revolution ETF is up even more this year. “I wanted individual investors to catch the wave,” says Wood of today’s enormous technological change. Her funds were designed for those “willing to step out and away from fixed income and into some of the most exciting stocks in history.”

Ark publishes its financial models, trading logs, and research to the investing public, and the firm’s analysts are happy to engage in discussion on Twitter, opening themselves to criticism and mockery. Wood’s $4,000 a share valuation of Tesla a year ago drew many scoffs on Wall Street. But her heady valuation was spot on. Short sellers have been burned by Tesla’s rise, while female investors like Zevenbergen and Wood have been patient bulls. On Friday, Tesla was added to the S&P 500 Index.

Female investing success in 2020 extends well beyond soaring growth stocks. Women-run funds are leading the way in everything from small cap stocks, to emerging market debt portfolios, dividend paying companies, and sustainable investments.

Amy Zhang, portfolio manager of the Alger Small Cap Focus Fund (AOFIX) and Mid Cap Focus Fund (AFOIX) was hired in 2015 to expand Alger’s presence in niche small and mid-cap stocks. When Zhang arrived at Alger, the Small Cap Focus Fund had just $16 million in assets. Now, after a 54% return in 2020 and a 30% annual average return over the past five years, Zhang’s Small Cap Focus Fund has $7.5 billion in assets.

Top holdings include refrigerated logistics upstart CryoPort and fast casual restaurant Wingstop. Her Mid Cap Focus Fund, launched in mid-2018, has attracted over $500 million in assets as it has soared by 84% in 2020, bolstered by casino operator Penn National Gaming and power equipment manufacturer Generac.

Long before sustainable investments became a prolific buzzword, Karina Funk, an MIT-educated engineer at Baltimore-based mutual fund giant Brown Advisory, was a pioneer in bringing sustainable investments mainstream. Funk, 48, a vegetarian who watches her carbon footprint by biking to work, launched the Brown Advisory Sustainable Growth Fund in June 2012, alongside David Powell, with a goal to back about 35 companies with products improving social and environmental sustainability, or efficient operating footprints.

Its focus on companies like Ball Corp. and American Tower has made it one of the best funds on the planet during down markets. Even in 2020, the fund has gained 38% despite its defensive posture, thanks to savvy picks like life sciences conglomerate Danaher and Etsy, which has empowered many small businesses during the pandemic. Funk can be a tough customer. She exited Facebook in the fall of 2018 due to data privacy concerns.

“Sustainability is a means, not an end in and of itself,” she told Forbes as part of a profile three years ago, when the fund’s assets were just $1.1 billion. “Our end goal is performance. We achieve that by finding fundamentally strong companies using sustainability strategies to get even better.” The fund’s assets have since soared to $4.6 billion.

Other female-led funds that have done well include Capital Group’s $128 billion American Funds New Perspective (ANWPX), led by a team of managers including Joanna Jonsson and Noriko Chen, and the $36 billion in assets JPMorgan Equity Income Fund (HLIEX), led by Clare Hart. The New Perspectives fund has beaten its benchmark by four percentage points annually over the past decade, while Hart’s Equity Income Fund has returned an annualized 11.65%, two percentage points annually above its benchmark, according to data from Morningstar.

Rebecca Irwin, Natasha Kuhikin and Kathleen McCarragher of the $1.3 billion in assets PGIM Jennison Focused Growth Fund (SPFAX) have returned 68% in 2020 and 25% over the past five years, ranking in the top decile of peer funds. At Alger, Ankur Crawford, co-manager of the Alger Spectra Fund (ASPIX) and Alger Capital Appreciation (ACCAX) has seen returns surpass 40% this year.

In fixed income, Tina Vandersteel of the $4.4 billion in assets GMO Emerging Country Debt Fund (GMCDX) has been able to outperform emerging market bond indices despite underweighting China and many Gulf-states due to her skepticism of the veracity of their economic data.

The bull market of 2020 is also creating new opportunities for female fund managers to shine. Two years ago, Julie Biel of Los Angeles-based Kayne Anderson Rudnick, was a rising star at the $30 billion (assets) firm and excited about the looming public offering of software company DocuSign. Known for investing in established businesses, Kayne had never participated in an IPO. Biel was late in her pregnancy as the IPO progressed and trying to win an allocation. She needed a doctor’s note to fly to the Bay Area to meet with DocuSign’s management. Kayne eventually won a large block of shares, quickly becoming one of its largest outside investors.

Biel also began to manage the firm’s KAR Small Mid- Sustainable Growth strategy around that time and made DocuSign the fund’s top holding. Its shares have risen 225% in 2020. This year, Biel’s fund has returned 42% through November. In December, Kayne decided to launch a mutual fund version, launching the strategy, called the Virtus KAR Small-Mid Cap Growth Fund (VIKSK), with Biel in charge.

Like Zevebergen and Wood, Biel is starting small and manages just $60 million. But the investment industry rewards performance above all, hinting at much larger things to come. Entering 2021, Biel’s portfolio is loaded with hidden gems like Ollie’s Bargain Outlet and MarketAxess that could grow for years to come. Follow me on Twitter or LinkedIn. Send me a secure tip.

Antoine Gara

I’m a staff writer and associate editor at Forbes, where I cover finance and investing. My beat includes hedge funds, private equity, fintech, mutual funds, mergers, and banks. I’m a graduate of Middlebury College and the Columbia University Graduate School of Journalism, and I’ve worked at TheStreet and Businessweek. Before becoming a financial scribe, I was a member of the fateful 2008 analyst class at Lehman Brothers. Email thoughts and tips to agara@forbes.com. Follow me on Twitter at @antoinegara

Meet The ‘Shop King’: How Tang Shing-bor Became A Billionaire Flipping Hong Kong’s Derelict Properties

Tins Plaza was an eyesore, a run-down, abandoned plastics factory in the Tuen Mun district when Tang Shing-bor first spotted it. To Tang, though, it was a gem, one of many forgotten industrial buildings sprinkled around Hong Kong, well worth the roughly $36 million he paid for it in 2005. But even he couldn’t have foreseen that just two years later he would triple his money on it.

It was by snapping up derelict industrial properties like Tins Plaza, flipping them or redeveloping them, that Tang went from the verge of insolvency in 2003 to billionaire in 2016, when he first made the list of Hong Kong’s richest. Now at 86 and No. 14 on the list with a net worth of $5.7 billion, Tang is making one of his biggest contrarian bets yet.

Despite months of protests casting a pall over the city’s property market, Tang has embarked on a shopping spree of Hong Kong’s industrial buildings, spending $700 million last year. He ranks as the biggest buyer of Hong Kong industrial properties in 2019, according to data from New York-based research firm, Real Capital Analytics.

This is the best opportunity I’ve ever seen,” says Tang in a rare interview, held at one of his buildings in Hong Kong’s bustling Mong Kok district, just blocks from where some of the most violent scenes of unrest have taken place. During the interview, Tang is multitasking, juggling phone calls from brokers, developers and lawyers. He is negotiating his next purchase, a dilapidated building next to the city’s old Kai Tak airport, which the government is auctioning off for redevelopment. To Tang, Hong Kong’s political turmoil is only creating better bargains. “We will move on from this,” he says.

Property is only the latest of Tang’s several incarnations in a career that traces Hong Kong’s own development.

At his side is the youngest of his five sons from two marriages, Stan Tang Yiu-sing, 34, chairman of the holding company he and his father established in 2013 and named Stan Group. Tang Sr., whose title is honorable chairman, remains very involved, and the two meet twice a day. Stan oversees new businesses and redevelopment of properties. Tang still cuts the property deals. “I make the final decisions,” says Tang in a booming baritone that belies his age.

Known in Hong Kong’s real estate circles as “Uncle Bor,” property is only the latest of Tang’s several incarnations in a career that traces Hong Kong’s own development—from neon bulb maker in the 1950s, to 1970s restaurateur, to earning the moniker “shop king” for his string of retail spaces—a foray that almost broke him.

Today, Tang is renowned for his knack of spotting remnants of Hong Kong’s bygone days as a manufacturing hub, its disused factories and warehouses, in areas poised for gentrification. That expertise is attracting eager partners, including Hong Kong’s Chinese Estates Holdings and Yangzhou-based Jiayuan International, which have both set up joint ventures with Stan Group to redevelop its industrial properties. “He’s very effective and experienced in converting these building sites,” says Joseph Lam, associate director of industrial services at Colliers International.

Tang has never feared failure. His father died when he was 5 and he was raised by his mother, who took a low-paying job in a factory to support them. “I had to come up with creative ways to survive,” he says. Tang recalls loitering outside restaurants when he was hungry, waiting for handouts. Growing up poor gave him grit: well into his 70s, he kept in shape with dawn swims beyond the shark net off Hong Kong’s shore. “There’s always a way,” he says. “There’s never a problem that can’t be solved.”

With only a primary school education, Tang became an apprentice in 1950 to an electrician making neon signs, and in his 20s opened his own store catering to then-booming demand for the bright storefront marquees that remain one of Hong Kong’s hallmarks. Neon success enabled Tang in 1970 to open a dim sum eatery with friends. That led to a string of restaurant investments, including a seafood restaurant in Sydney, that Tang would in 1982 consolidate as the East Ocean Gourmet Group, which is still thriving today. The 1980s saw Tang branch out into a flurry of new businesses, including a used car dealership. But it was buying and selling shops where Tang made his mark. “Looking after the restaurant exposed him to news of nearby shops,” says Stan. One of his most notable investments in the following years would be the purchase in 1990 of an old restaurant building that he would transform into the renowned Mongkok Computer Centre.

“I’m optimistic about Hong Kong’s future,” says Tang. “I’ve seen ups and downs. There are opportunities out of risks. This is my chance—my turn.”

Tang Shing-bor

By 1997, Tang had amassed more than 200 shops worth roughly HK$7.3 billion ($942 million) and began planning an IPO, only to be thwarted by the Asian financial crisis. Hong Kong’s property market fell 70% between 1997 and 2004 as the crisis was followed by the outbreak of SARS in 2003. By 2004, with HK$4 billion in debt, Tang began selling most of his portfolio, including his prized Mongkok Computer Centre.

What he didn’t sell, however, was a smattering of industrial space he began buying in 1996 to hedge against volatile retail rental yields. And Tang knew just where to buy. Hong Kong had decided in 1990 to close Kai Tak and build a new, larger airport on Lantau Island. So Tang focused on Tuen Mun, a neighborhood directly across a bay from the new airport and connected by road to Hong Kong’s nearest neighbor in mainland China, the fast-growing city of Shenzhen.

Tang starts drawing a rough map: “Let me tell you about the factories on San Hop Lane,” he says as he sketches out the streets and buildings around his first purchase, Tuen Mun’s Oi Sun Centre. Tang bought the former factory in foreclosure for HK$42 million in 2004.

Up the street was Tins Plaza, the retired plastics factory named for its former owner, chemical tycoon-turned-philanthropist Tin Ka-ping. Tang picked up the building in early 2005 for HK$280 million, putting HK$28 million in cash down and borrowing the rest from banks using another of his buildings as collateral.

Six months later, Tang says he received a call from an industrial property unit of Australia’s Macquarie Bank, Macquarie Goodman, offering him HK$500 million for the building. By October, he had a second offer, for HK$520 million, from Singapore property investment fund Mapletree. “But that’s not even the best part,” Tang says.

Faced with rival offers, Tang chose neither. Commercial property commands a higher price than industrial property, he reasoned, so he had Tins Plaza rezoned as commercial. Two years later, Tang found himself in an elevator to Macquarie’s offices in Hong Kong’s International Finance Centre to meet an executive who had flown in from Sydney with a new offer. “The gweilo [foreigner] boss was a handsome man,” Tang says. “He was very straightforward and asked me whether I’d be willing to sell for HK$850 million.” Macquarie in 2008 sold its stake in Macquarie Goodman to its joint venture partner, Goodman Group. Both Macquarie and Goodman declined to comment on the deal.

Tang’s prediction had come true: demand for Hong Kong’s old industrial space had indeed rebounded—not, as he foresaw, because of the new airport, but because of surging demand for the data and fulfillment centers needed to provide cloud services and e-commerce. “There are new technologies like data center users going into warehouses,” says Samuel Lai, senior director at property services firm CBRE in Hong Kong. Tang sold Macquarie Tins Plaza, earning HK$570 million on his HK$280 million investment. “Tins Plaza was the most memorable transaction I’ve ever made,” he says.

But Tang wasn’t resting on his laurels. After seeing the offers roll in for Tins Plaza, he set about buying another former factory down the street, the Gold Sun Industrial Building. Unlike his previous two deals, Gold Sun had several owners, each requiring separate negotiations. Tang bought the first of the building’s eight stories in 2006; he wouldn’t manage to clinch the eighth until 2014. “I bought it floor by floor,” says Tang.

Tang’s timing proved impeccable. Eager to boost the supply of property for offices, hotels and shopping, Hong Kong’s government in April 2010 implemented incentives to redevelop disused industrial properties. The so-called revitalization scheme lifted restrictions on how large a building developers could build on land converted from industrial use. The result: Factory prices surged 152% between the policy’s launch and early 2016, when the government ended the incentive. “The best initiative that came out and led to a lot of transactions was the relaxation on the plot ratio,” says CBRE’s Lai.

Tang got another lift in 2013, when the government announced the start of construction on a tunnel linking the new airport and Tuen Mun. Tang combined his Oi Sun Centre and Gold Sun Industrial Building into a single development, One Vista, a two-tower office building and shopping complex. In May 2018, he bundled One Vista with two other Hong Kong properties and sold roughly 70% to Jiayuan International for HK$2.6 billion.

Tang has left Mong Kok to head downtown to his East Ocean Lafayette restaurant overlooking Victoria Harbor. Nibbling on fried turnip cake dipped in spicy Cantonese seafood sauce, he is closely shadowed by two lawyers sipping tea at the next table and waiting their turn to update him on his deal near Kai Tak. Uncle Bor has already managed to buy 73% of the buildings near the old airport, just 7% away from the threshold at which he can legally compel the remaining owners to sell. Redevelopment of Kai Tak stands to boost property values around the area. And a new revitalization scheme, launched last year, has lifted limits yet again on how big developers can build on converted sites. If and when Tang clinches ownership, he and his partner for the property, Chinese Estate Holdings, will be able to knock down the existing building, and build a new one with 14 times as much saleable space.

“I’m optimistic about Hong Kong’s future,” says Tang. “I’ve seen ups and downs. There are opportunities out of risks. This is my chance—my turn.”

After returning to Hong Kong from university in the U.K. 15 years ago, Stan Tang Yiu-sing opened an ad agency with friends. Soon, though, he was working with his father, Tang Shing-bor, learning the real estate business and building property management and leasing firms. In 2013, he and his father set up Stan Group to integrate the family’s real estate investments with his service offerings. Stan now chairs the group and oversees the conversion of the older buildings his father buys into modern retail and commercial properties.

“Pure property investment is no longer our only single investment direction,” says Stan, who has joined the shift among Asian property executives from asset-focused development into service-oriented offerings—hospitality, co-working spaces and incubation hubs. Stan Group now operates six hotel brands with a combined 3,500 rooms. In 2016 it launched an innovation hub for entrepreneurs, called “The Wave.”

Stan has also steered Stan Group into financial services, a private members’ club, and serviced apartments catering to the elderly. “The government has given us policies that present us an opportunity to reposition ourselves,” Stan says, echoing his father’s confidence in Hong Kong’s future as part of the greater bay area comprising Guangzhou, Hong Kong and Shenzhen. The 34-year-old plans to list five of the group’s companies by 2023, though the property representing 90% of Stan Group’s assets will remain private, he says. Stan says his aim is to grow non-property businesses to someday represent at least half of the group’s total assets.

Pamela Ambler

Pamela covers entrepreneurs, wealth, blockchain and the crypto economy as a senior reporter across digital and print platforms. Prior to Forbes, she served as on-air foreign correspondent for Thomson Reuters’ broadcast team, during which she reported on global markets, central bank policies, and breaking business news. Before Asia, she was a journalist at NBC Comcast, and started her career at CNBC and Bloomberg as a financial news producer in New York. She is a graduate of Columbia Journalism School and holds an MBA from Thunderbird School of Global Management. Her work has appeared in The New York Times, Washington Post, Yahoo, USA Today, Huffington Post, and Nasdaq. Pamela’s previous incarnation was on the buy side in M&A research and asset management, inspired by Michael Lewis’ book “Liar’s Poker”. Follow me on Twitter at @pamambler

Source: Meet The ‘Shop King’: How Tang Shing-bor Became A Billionaire Flipping Hong Kong’s Derelict Properties

Investors Archive

An interview with Hong Kong’s richest man, Li Ka-shing. In this interview Li Ka-shing discusses his early interest in business, why cash flow is the most important thing and building his companies, CK Hutchison Holdings and CK Property Holdings. Li Ka-shing also talks of his foundation, Li Ka Shing Foundation, and the philosophy behind it. Like if you enjoyed Subscribe for more:http://bit.ly/InvestorsArchive Follow us on twitter:http://bit.ly/TwitterIA Other great Entrepreneur videos:⬇ Larry Ellison’s in depth interview on his Life and Success: http://bit.ly/LEllisonVid Jeff Bezos on Amazon, Business and Life/Work:http://bit.ly/JeffBezosVid Bill Gates on Business, Microsoft and Early Life: http://bit.ly/BillGatesVid Video Segments: 0:00 Introduction 1:50 Careful with cash flow 2:25 Is cash flow the most important thing? 3:03 How did you educate yourself? 5:13 Beating the competition? 6:27 Yangtze river metaphor 7:33 Management style 8:52 Always half an hour early 10:27 Rich before 30 but unhappy 13:00 Leaving money to a foundation 13:47 Building the Tsz Shan monastery 14:40 Combining western and buddhist influences 17:05 Inequality in Hong Kong 18:47 When are you retiring? 21:46 Will it be the same without you? Interview Date: 29th June, 2016 Event: Bloomberg Original Image Source:http://bit.ly/LiKaShingPic Investors Archive has videos of all the Investing/Business/Economic/Finance masters. Learn from their wisdom for free in one place.

Getting To Know The Man Who Did The Most To Nourish Free Enterprise In China: Jack Ma

Most everyone has probably heard of Jack Ma and Alibaba. But, few understand the true immensity—and importance—of what Ma, the co-founder and former executive chairman of Alibaba Group, has done. We had a fascinating conversation at the Forbes Global CEO Summit in Singapore, where we discussed what he did at Alibaba, one of the most formidable e-commerce companies in the world, and his future plans and aspirations.

By providing people in China with a powerful online platform to market their products and services with Alibaba, he nourished millions of small businesses — and the cause of free enterprise. Thanks to Ma, countless numbers of Chinese businesses and individuals can obtain loans and other financial services that would otherwise be unavailable from traditional institutions within China. He also enabled small enterprises everywhere, including the US, to easily trade with entities in China.

Having recently stepped down from Alibaba, Ma is moving into philanthropy, big time, to promote entrepreneurship and education, among other things.

Struggling students will take heart at the fact that Ma was a poor student, frequently flunking his exams. Furthermore, his success was not immediate; numerous employers turned him down when he first entered the workforce.

Ma’s story validates Adam Smith’s truth that commerce benefits us all, and free markets are the best poverty fighters ever created.

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Steve Forbes

Steve Forbes is Chairman and Editor-in-Chief of Forbes Media.
Steve’s newest project is the podcast “What’s Ahead,” where he engages the world’s top newsmakers, politicians and pioneers in business and economics in honest conversations meant to challenge traditional conventions as well as featuring Steve’s signature views on the intersection of society, economic and policy.

Steve helped create the recently released and highly acclaimed public television documentary, In Money We Trust?, which was produced under the auspices of Maryland Public television. The film was inspired by the book he co-authored, Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It.

Source: Getting To Know The Man Who Did The Most To Nourish Free Enterprise In China: Jack Ma

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A New Study Reveals Hiring Effective Female Leaders May Be the Best Thing for Your Company’s Success

Do you believe in your company — its mission, purpose, and what it stands for? Belief in a company is one of the main factors behind why employees work and what they do.

The belief that the company is moving in the right direction, has room for personal and professional growth, and that the employee plays an active part in the strategy are all crucial to keeping employees engaged.

For leaders guiding the way, belief in a company is something that is earned and must come naturally for employees. And according to a new study, attracting and promoting more females into leadership roles is the way forward.

Employees respond better to women-led companies

A recent Peakon study found that employees of women-led companies, meaning those with more than 50% female leaders, feel a stronger connection to the company and their products.

When over 60,000 employees were asked the question of “how likely is it that you would recommend [Company Name] products or services to friends and family,” those at women-led companies answered 0.6 points higher than employees at male-led companies.

Women-led companies also answered higher in terms of satisfaction in the company, an important part of being an active, efficient employee.

Female leadership could be a major enabler in driving the company culture, and female-led companies are proven to be better in communicating mission and strategy, and managing more engaged employees.

Why belief in a company and its products is so important

Belief in the company is also strongly tied to the company strategy. When employees believe in the company — the origin, mission, and value the company offers to consumers and clients — they will subsequently have stronger belief in the strategy as well.

According to Roger Dooley, an experience marketer and author, believing in your company and its product makes you more persuasive. Employees with a strong belief in their product will be more able to effectively sell products or services the company offers, and will have a stronger connection to the company itself.

Belief in a company and its values is also critical to employees’ commitment and persistence. Employees with stronger belief in their company tend to be more willing to continue in their hard work when they trust the path the company is moving on.

According to the Harvard Business Review, belief in a company and its goals will enforce motivation throughout all of the employees — both to get work done when needed, and to keep up the same work ethic when it gets harder.

Belief in a company also helps leaders. When your company supports the same goals, it becomes easier to manage and communicate.

In Authentic Happiness, psychologist Marty Seligman writes that employees become their “happiest” selves when they are doing work they find worthwhile. Leaders who are able to motivate others to work towards a communicated, shared goal — and a shared belief in the goal — are able to maintain morale and engagement throughout the employee lifecycle.

Moreover, belief in a company and its goals also creates a feeling of solidarity among employees and their leaders. If at any point there is a disconnect between employees and leaders, it can be mended quickly and easily when there is a strong belief that the company is going in the right direction.

Ari Weinzweig, a founding partner of Zingerman’s Community of Businesses, points out that belief in a business is one of the most productive foundations that employees and leaders can both share. It creates a shared purpose that may otherwise not be found, as most beliefs are formed before a person is even old enough to be in the job force.

Forming a community where there is a belief in a business allows for clearer actions towards the shared belief, and helps everyone’s job within a larger company make sense.

Clearly the research proves that you must care about the belief in your company strategy and its product. But we must not ignore the key component. As Peakon’s study revealed, investing in female leaders will help you bring deeper conviction about the company and its services, and therefore empower your business to grow in a sustainable way.

By:By Marcel Schwantes Founder and Chief Human Officer, Leadership From the Core @MarcelSchwantes

Source: A New Study Reveals Hiring Effective Female Leaders May Be the Best Thing for Your Company’s Success | Inc.com

TEDx Talks

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Why are there so few women leaders? Weaving together scientific research and personal narrative, Alexis Kanda-Olmstead explains why women may be reluctant to take on leadership roles and what we – women and men – can do to disrupt the powerful internal forces that undermine women’s leadership aspirations and confidence. 1. Alexis Kanda-Olmstead leads talent and diversity initiatives at Colorado State University for the Division of University Advancement. Throughout her twenty-year career in higher education, Alexis has worked to help students, faculty, and staff actualize their potential as leaders through self-knowledge, personal empowerment, and service. As a student and practitioner of women’s development, social justice, and organizational psychology, Alexis believes that with grace and humor we can create positive change that benefits everyone. Alexis is a blogger on women’s issues and the founder of AKO Collective, a women’s leadership development company based in Northern Colorado. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

OxyContin’s Sackler Family Will Get Millions From A Ski Resort Operator’s Sale

Vail Resorts, a publicly traded operator of ski resorts, announced on Monday it would acquire Peak Resorts for $11 per share, all cash, which is more than double its $5.10 per share closing price, one day prior to the announcement. Peak Resorts operates 17 ski resorts, mostly in the Northeast and Midwest, including Alpine Valley in Ohio and Hunter Mountain in upstate New York.

One major beneficiary of the acquisition: the Sacklers, the family behind Purdue Pharma, the manufacturer of pain drug OxyContin. According to Peak Resorts’ latest annual proxy from October 2018, its largest shareholder is CAP 1 LLC, a company wholly owned by Sackler brothers Richard and Jonathan.

The Sacklers’ nearly 40% ownership stake, which includes preferred stock and stock warrants, is worth about $87 million based on the transaction. Some of the shares are owned by the charitable Sackler Foundation. The Sacklers became investors in Peak Resorts as early as August 2015.

Richard is the former chairman and president of Purdue Pharma. His brother, Jonathan, is a former board member. Nearly every state has filed lawsuits against Purdue Pharma and its owners, including eight Sackler family members, alleging the company caused a nationwide public health crisis around opioid addiction and opioid overdose deaths. One lawsuit alleges that Purdue Pharma had brought in more than $35 billion in revenues since 1995.

The Sacklers, worth an estimated $13 billion based largely on the value of Purdue Pharma, built their fortune primarily through sales of OxyContin, a highly addictive painkiller that has been called by the medical establishment one of the root causes for the nationwide opioid addiction epidemic.

Purdue Pharma owns the patent for OxyContin, and is the only manufacturer of the drug. According to Symphony Health Solutions, a healthcare and pharmaceutical data analytics company, roughly 80% of Purdue Pharma’s sales come from OxyContin. Due to the widespread rise in use of prescription and nonprescription opioids, the U.S. Department of Health and Human Services declared the opioid crisis a public health emergency in 2017.

The family used to be known for being generous benefactors of museums and universities worldwide, but their moniker has lost its luster. The Metropolitan Museum of Art in New York City announced in May it would turn down money from the Sackler family, though it will still carry the family name in the Sackler Wing. In July, the Louvre Museum in Paris reportedly removed the Sackler name from its Sackler Wing of Oriental Antiquities.

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Angel Au-Yeung

Angel Au-Yeung has been a reporter on staff at Forbes Magazine since 2017. She covers the world’s wealthiest entrepreneurs and tracks how they use their money and power.

Source: OxyContin’s Sackler Family Will Get Millions From A Ski Resort Operator’s Sale

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How These Women Investors Crushed It In 2020

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