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" ... After the peso rout, Macri went hat in hand to the IMF. This was the dagger in the heart of Macri’s political career. For one thing, the Argentine public distrusts, if not despises, the IMF—and for good reasons: namely, the IMF’s record of failure in Argentina. Yes, the IMF’s prescriptions have turned out to be the wrong medicine. To stabilize a half-baked currency’s (read: the Argentine peso) exchange rate, the IMF orders sky-high interest rates. With these rates, the economy collapses, as does the local currency that the IMF is trying to stabilize. ... "
" ... So he is always on the lookout for the new and untried to fulfill the “innovation” part of the luxury formula for success. But he always distrusts certainty. “Always be in doubt,” he tells me in response to a question regarding what advice he might give someone in the luxury wine business. “Be convinced of nothing. You must see things, taste the grapes for yourself. And then get a second opinion, as you would if you were seeing a doctor. Then you must remember that none of us is actually in control; we must be modest and down to earth. These things we cherish are ours to manage for the next generation.” ... "
" ... Trust is often challenging to build with every direct report. Often, leaders relate better to some direct reports than others. Other times, a few direct reports may require some disciplinary action when they act inappropriately. Some managers find themselves with a direct report they feel distrusts them. If you have one negative direct report, this can (on average) lower your scores, but if you do the math, one out of six should not have a devastating negative impact. In our experience, we find that most managers lay all the blame on that one person who they feel is negative. ... "