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Do They Measure Up?

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How should we evaluate money managers and business leaders? Or for that matter, a presidential candidate?
One way is ask these three key questions:
Have they developed a well-defined strategy?
Do they have the gravitas to consistently make tough decisions?
Are they highly effective communicators?
If we look at all three – money managers, business leaders and presidential candidates – there are some compelling similarities and noteworthy differences.
The Great Money Manager
When we analyze the standout money manager, we typically see a coherent and careful strategy. That strategy may or may not be complicated, but it is always well-defined.
Equally as important, the great money manager doesn't materially deviate from their strategy. That requires a steely ability to make difficult decisions. For example, if a manager sells while the herd is charging after the market, courage is necessary to weather the inevitable second-guessing that will follow.
A great investor must …