War Stories Archive
“The presentation is yours to lose,” an investment company was told going into a finals presentation. The presenters had every reason to feel confident. The performance numbers were excellent, and the company had recently hired a presentation coach* to give them an edge. During the presentation, the portfolio manager and sales professional followed the coach’s advice always to clarify technical terms such as “alpha,” “beta” and “duration.” When the salesperson got the call informing her that the business had gone to a competitor, she was shocked to learn why: The selection committee was irritated by what it saw as the presentation team’s gross oversimplification of the investment process. “The portfolio manager described the process as if he were a professor teaching Investing 101 to a bunch of freshmen,” said the consultant who told us this story. By explaining technical terms, the portfolio manager might have made his coach happy. But the audience that really mattered — a sophisticated CIO and a top consultant — experienced only condescension and lack of substance.
Moral: Don’t dumb it down for a smart audience.
* Not Alpha Partners
Also see Know Your Audience — The Chauvinist and Know Your Audience — The Student.