IT'S funny how so many late afternoon 'meetings' have been scheduled in the past month. Could it have anything to do with the kick-off times for soccer's World Cup?
Watching 22 guys hoof a piece of leather around a hot corner of Germany was an opportunity to gain some insight into business, investment and management. Because almost everything you need to know about all three subjects could have been learned from watching the matches.
Here are six lessons, accompanied by an investment tip. (Be warned: A few weeks ago, I was sure England would be playing Germany in yesterday's final.)
One: Experience usually outwits youth.
Before the tournament, nobody gave France a hope. The team appeared to have changed little since 1998. It didn't matter. Soccer, like business, has a cult of youth but brains and experience regularly outplay the energy and passion of the young.
Tip: Berkshire Hathaway Inc chairman Warren Buffett might be 75, and worrying as much about his will as his next investment. It makes no difference. The chances are that every dollar invested with him will easily outperform any money you place with some brash young hedge fund manager.
Two: Chaotic management will bring disaster.
England came into the tournament with a squad brimming with confidence and talent. But under coach Sven-Goran Eriksson, they appeared clueless. It doesn't matter how great your assets are, if you can't manage them, you won't do well.
Tip: Sell shares in Vodafone Group plc. The world's biggest mobile phone company should be perfectly placed to exploit the convergence of the Internet, telecommunications and the media. But strategic confusion has meant Vodafone's shares are now valued at less than a third of their 2000 peak.
Three: You can't win if you don't believe in yourself.
Spain came into the tournament as one of the favourites. It has probably the best league in Europe and a great mix of young stars and smart, game-savvy older players. But it crashed out early. The Spanish have all the talent they need to make an impression on a big tournament one day - but that day won't come until they believe in themselves.
Tip: Sell Unilever shares. The Anglo-Dutch consumer goods company has some great brands on its books, such as Lipton tea and Dove soap. Yet while stock markets have soared, its shares have barely risen in the past 12 months. If Unilever believed in its potential, it could do great things. The trouble is, that will probably never happen.
Four: Never write off old Europe.
At the start of the tournament, Argentina dazzled everyone with its skill. The Brazilians were expected to shine. Plenty of us thought that maybe this would be the year when one of the African teams would go all the way to the final. By the semi-finals, however, it was the traditional soccer powers of Europe that dominated the contest. As the winner, Italy showed an ability to dig triumph from adversity, which speaks volumes for the nation's character.
Tip: Buy the euro. You might think the euro-area economy is an overtaxed, overregulated dog. Still, Europe has been the centre of wealth and power for a couple of millennia. Now that really is a long-term trend, so you'd bet against it at your peril.
Five: It's winning that counts.
Germany began the tournament looking short on talent and squabbling over coaching. Its national team had no playing artistry but power, fitness and determination took it to third place at the World Cup.
Tip: Buy Microsoft Corp shares. Nobody got excited about the latest version of Windows. The likes of Google Inc and Apple Computer Inc can wow the technology crowd. Yet this column was written on Microsoft software, just like millions of other documents around the world. Other companies get the awards, while Microsoft gets the sale. In the end, we only remember the winners.
Six: Never bank on what may happen next.
Most predictions before the tournament turned out to be about as accurate as Frank Lampard's shooting, as consistent as Ronaldo's waistline, and as truthful as Cristiano Ronaldo's penalty appeals.
Hold lots of cash. Nip down to the bank, take out all your money, find a remote hillside, and bury your life's savings in a deep hole. Nobody knows anything about what will happen next - and they probably never will. - Bloomberg