Management teams often disguise poor capital allocation decisions (especially failed acquisitions and technology transformations) by selectively excluding those costs from their proforma compensation metrics, which is a major red flag for investor misalignment because it shows management is not holding itself accountable to shareholders in the same way.
causalpending
Speaker
Joseph ShapiroEvidence Quote
“if a management team is going to make an investment they should have to live with that investment just like all of us do”
Source
The Compounders Hiding in Plain Sight | Joseph Shaposhnik on Finding Decade-Long Winners— Excess ReturnsCreated: 8/11/2026, 7:25:53 AM
My Notes
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