Carret Asset Management, LLC is a privately owned investment management firm. Alan Quasha is co-chairman of the company. One of the services the company offers is Taft-Hartley Plans. These plans comprise the following principal characteristics: a) a joint board of trustees (representing both management and labor equally) manage the fund and its assets; b) each participating employer collectively bargains the fund; c) contributions to the fund come from at least one employer; d) the assets are put into a trust fund which has a legal segregation from the union and employers to benefit only the employees and their families.
Work of Carret Asset Management LLC
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Richemont Group Staff
French-born non-executive director of Richemont Group Alan Dominique Perrin, graduated from Ecole des Cadres (EDC) and worked for Cartier Lighter Company first as its Commercial Attache and thereafter the Managing Director. He became CEO of Must de Cartier in 1976. As well, in 1981 he headed the Directorship of Cariter International and Cartier SA. Three years later he established the Cartier Foundation for Contemporary Art in Paris and in 1986 was named Representative for the Patronage of Business by France’s Minister of Culture & Communication. Perrin was appointed to the board of Richemont in 2003 where Alan Quasha has held the same position since 2000.
Mistakes That Work – Message from Alan Quasha
In an article in 2007 for Forbes.com, Alan Quasha shares his experience and understanding of how to use mistakes to your advantage in the business world. As founder, president and CEO of Quadrant Management, Alan Quasha brings his own experience and expertise to the article.
As Quasha writes,
“As a society, however, we are trained from our earliest days to be afraid of mistakes. We learn to react to mistakes with anger–outrage, on one hand, and fear on the other. We operate in a system in which we’re rewarded for not making mistakes and punished when we do make them. Rather than make or admit mistakes, we tend to either be risk-averse or try to cover them up.
What’s missing from this equation is growth and integrity. To learn from mistakes, we have to admit them early. To avoid big mistakes, we have to acknowledge at the outset that they are a possibility. Appropriately so, risk managers are increasingly becoming top firm managers–and firms with greater risk management controls set themselves apart from those that don’t.”
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Alan Quasha and Board of Compagnie Financière Richemont SA
Alan Quasha is on the Board of Compagnie Financière Richemont SA. He works with a great team, including Jürgen E Schrempp, who was appointed non-executive director in 2003. Schrempp has quite an impressive work history, until a few years ago having been the CEO of DaimlerChrysler. While it ultimately didn’t succeed, the merger between Chrysler and Daimler Benz that Schrempp was behind, was at the time, thought to be very good for both the companies. Indeed, he himself even termed it a “match made in heaven.” However, it was also through Schrempp that Mitsubishi Motors was acquired as part of his ‘Three Pillars’ plan to place Daimler-Benz into US and Asia markets. Schrempp was also in charge of the aerospace division of Daimler-Benz, known today as EADS. Today, along with being the non-executive director of Compagnie Financière Richemont SA, Jürgen E Schrempp is a director of the South African Coal, Oil and Gas Corporation Ltd.
NET-A-PORTER & Richemont with Alan Quasha
Richemont is poised to create a very exciting change. In recent news, they have made an offer to shareholders in NET-A-PORTER Limited to acquire all of the company shares. At the moment, Richemont, where Alan Quasha is a non-executive director, holds about 33% of the capital of NET-A-PORTER Limited.
NET-A-PORTER.com, owned by NET-A-PORTER Limited, is the world’s premier online luxury fashion retailer. Their award-winning website is presented in the style of a fashion magazine. It offers fashion conscious women the hottest looks of the season, with new products featured weekly. Each item includes a cutting-edge designer label and can be shipped with worldwide express delivery.
At the moment, the website serves customers in over 170 countries and is viewed by over 2.5 million women each month.
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News for Quasha’s Quadrant Management?
Alan Quasha, President of Quadrant Management, Inc. (a “principal alternative investment management firm focused on US and emerging markets”), might be interested in a recent publication entitled, ‘Transformation: The Future of Alternative Investments.’ This paper “examines in detail the transformational change of the alternative investment industry as it enters a period of significant growth, set against scrutiny from regulators and institutional investors.” As well, it looks into the reactions of alternative investment managers to “significant market volatility and regulatory uncertainty.” Many of these individuals working in this area are, as a result, “adapting their business models to maximize chances of success.”
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Fine Advice for Sensible Portfolio Managers
It shouldn’t be so hard to comprehend that with many things in life, keeping it simple really is the best piece of advice. But somehow it is, or at least, too many people out there don’t follow this train of thought. Quite simply, what Roger Nusbaum suggests is to make it a “priority [to have] enough money when you need it, or perhaps more specifically giving yourself the best chance possible to have enough money when you need it.” Doesn’t sound too complicated does it? Perhaps when it comes to the stock market cycle, things get a bit stickier but the basic principle should remain the same.
Diagnosing Traumatic Brain Injuries
It is not always so easy to diagnose traumatic brain injuries (TBIs). The Brain Trauma Foundation of which Alan Quasha is chairman, works hard to “improve[e] the outcome of Traumatic Brain Injury (TBI) patients worldwide by developing best practices guidelines, conducting clinical research, and educating medical professionals and consumers.” What often hinders and delays the recovery of TBI victims – as has been the case in America’s military recently – is that it has been hard to “diagnose troops with TBI” “despite billions in research dollars.” It has been found that one of the biggest problems is that experts in the field simply cannot pinpoint exactly how the injuries happen and “the workings of the brain remain largely a mystery.” Organizations such as the Brain Trauma Foundation are working hard to alleviate this issue so that TBI victims are given the best chance of recovery.
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Learning from Giving Back
Alan Quasha, founder, president and CEO of Quadrant Management, has certainly had a successful business career. In an article in Leaders Magazine, he was asked about how he gives back, in addition to all of his business dealings. Alan Quasha explained that,
“When he was younger, one of my sons went into a coma because he had what is called a traumatic brain injury, or TBI. Through that experience, I learned a lot about TBI and becameinvolved with the Brain Trauma Foundation. I understood the enormous impact that TBI could have on families, both emotional and financial. I was asked to chair the Brain Trauma Foundation and this great organization has made tremendous changes to how TBI is treated throughout the United States and the world.
The experience has taught me lessons that I’d love other organizations to learn. One is that you don’t necessarily need to be a large organization to make something happen.”
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Alan Quasha and Indian Financial News
Alan Quasha is someone who has to know what is going on in the world of finance. Since the financial companies in which he is involved – president of Quadrant Management Inc. and Partner at Vanterra – are global, being abreast of economic developments and downturns on a global level is part of the job. That is why the latest news in the Indian stock market might be somewhat troubling for a man like Quasha. One of the countries in which Quadrant Management Inc. has an office, is India.
Indian Stock Market and Alan Quasha
The Indian stock market is currently in decline, and that fact, together with the crisis of Greek sovereign debt has “raised the specter of a double dip recession.” This is also quite disappointingly surprising since it was only recently that NIFTY (the major index for companies on the country’s National Stock Exchange) was looking pretty good. Clearly therefore, what has now happened and what was predicted to have happened in the country’s economy, just shows how important it is for global companies such as Quasha’s to constantly keep on top of worldwide fiscal flux.
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