Michael Lee-Chin is a Jamaican business magnate, investor, and philanthropist. He is the founder and chairman of Portland Holdings Inc. Worth more than $2 billion, his privately held investment company is owner of a multitude of diversified operating companies. Here is a look at some of the most memorable Michael Lee-Chin quotes.
“Gold is a commodity; over the long run, as we look back, it has not been a good investment. You can’t look at the intrinsic value of gold as you can a business. Gold doesn’t give you cash flow, and, at the end of the day, cash flow is what is important. Gold doesn’t give you dividends.”
“Doing business in Jamaica is not easy, but it is rewarding.”
“I didn’t generate my success by being a prognosticator. I developed my reputation building our businesses by building great businesses and making them more efficient.”
“I wouldn’t have become an engineer, I wouldn’t have done what I did, had a hand not been held out to me. I have to remember who helped me when I needed help. The people of Jamaica helped me. I can’t forget that. I would be ungrateful if I forgot.”
“If people perceive themselves as having very little opportunities to be fulfilled, then it cheapens their life and outlook. The solution is to reverse it; make sure they know opportunities abound.”
“Life is not linear; you have ups and downs. It’s how you deal with the troughs that defines you.”
Executive Chairman of Portland Holdings, Michael Lee-Chin, speaking to students this evening: "Do well and do good." #meetgoizueta pic.twitter.com/SvLhH5PMkf
— Emory Goizueta (@EmoryGoizueta) November 2, 2016
“My first playpen was a cardboard box.”
“Private equity has been the purview of super wealthy individuals and institutions.”
“The objective of the customer is not being met if the fund managers are diversifying their assets into hundreds of businesses. If they do this, they are typically performing close to the indexes. But that’s not the way wealth is created.”
“The philosophy to ‘buy and hold’ is a philosophy that I use to manage funds.”
“You can’t look at the intrinsic value of gold as you can a business. Gold doesn’t give you cash flow, and, at the end of the day, cash flow is what is important. Gold doesn’t give you dividends.”
“You must look like a money person for clients to trust you.”
Here is one on one talk with Michael Lee-Chin at this Black Enterprise Interview.
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