I have spoken frequently about making the tough decisions when they’re presented and the painful process of the “death by a thousand cuts”. Another perspective on making the tough decisions is how easily we fool ourselves into accepting as gospel that which we suspect isn’t. It goes back to that “gut check” that is pretty reliable indicator for experienced executives.
I meant to post this Fortune article when it was originally published . . . but it still serves as a vivid reminder of Wall Street’s illusion about turning piles of toxic mortgages into a slick security. The lipstick disguised the pig for awhile, but then . . . here’s an ugly mixed metaphor . . . the chickens came home to roost.
Don’t make the same mistake. See things for what they are . . . and deal with them NOW!