tag:blogger.com,1999:blog-7905515.post2721896311706316017..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Death of a SalesmanEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7905515.post-79286547087059561882010-04-26T18:36:40.147-05:002010-04-26T18:36:40.147-05:00Whatever happened to due diligence in all of this?...Whatever happened to due diligence in all of this? Either 1) the buyers were idiots, in which case it's better they blow up or 2) they indeed were some of the most sophisticated investors in the world, and so only have themselves to blame.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-84510420654111924312010-04-26T09:49:21.215-05:002010-04-26T09:49:21.215-05:00"There are differences, and it's their jo..."There are differences, and it's their job to explain them ... with a spin that favors their product, but never stretching to the point where they lose credibility and trust with the client."<br /><br />You're right. The best salespeople aren't ignorant. They're sociopaths.Anonymoushttps://www.blogger.com/profile/05431036725490947171noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-31837408945931608422010-04-26T08:40:51.209-05:002010-04-26T08:40:51.209-05:00Don't be silly. The crime is not getting peop...Don't be silly. The crime is not getting people to "buy thing they don't need", the crime is selling a defective product or saying that the product has the feature X when it does not. <br /><br />If a salesperson does not understand the product and misrepresents its features, that's grounds for a lawsuit. People/companies get sued all the time over this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-14890382542690252782010-04-26T07:54:16.756-05:002010-04-26T07:54:16.756-05:00You open your post with a total misunderstanding o...You open your post with a total misunderstanding of the role of the salesperson ... so I didn't bother to read the rest because it was based on nonsense. It shows a typical Economist's understanding of the world: all products are commodities that are relatively perfect substitutes for each other. <br />Manipulating people is hard work. It's a lot easier to listen to them when they have a need/want/demand, and then provide them with a product from your assortment/selection/etc that best satisfies their need. <br />Your concept of salespeople, and I guess advertising and marketing, is straight out of the socialist handbook. It's obvious your Economics department at wherever was not a part of the business school. <br />The best salespeople know their product AND the competition's product. There are differences, and it's their job to explain them ... with a spin that favors their product, but never stretching to the point where they lose credibility and trust with the client.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-46789418467506556802010-04-26T07:33:21.452-05:002010-04-26T07:33:21.452-05:00Oh, I'm not convicting him of anything based o...Oh, I'm not convicting him of anything based on those emails. I'm just saying that the mere fact that he was a salesman doesn't necessarily mean he was too dumb to understand what he was selling.<br /><br />I've seen good salespeople who could easily put on a different hat if you paid them to do that. Some people just respond well to incentives.Anonymous #5noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-35794499398485192010-04-26T00:51:56.756-05:002010-04-26T00:51:56.756-05:00#5, that's typical salesman bs. He's just...#5, that's typical salesman bs. He's just blowing off steam in his high stress position. I've seen this type of thing many times.<br /><br />Remember that you're only seeing out of context snippets of a few, out of thousands, of e-mails.Patrick R. Sullivannoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-25955158602007136552010-04-25T20:01:19.558-05:002010-04-25T20:01:19.558-05:00Nice post, but...
[P]ortions of an e-mail in Fren...Nice post, <a href="http://dealbook.blogs.nytimes.com/2010/04/19/fabrice-tourre-fabulous-or-fatally-flawed/" rel="nofollow">but</a>...<br /><br /><i>[P]ortions of an e-mail in French and English sent by Mr. Tourre to a friend on Jan.23, 2007 stated, in English translation where applicable: “More and more leverage in the system, The whole building is about to collapse anytime now … Only potential survivor, the fabulous Fab[rice Tourre] … standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!” Similarly, an e-mail on Feb. 11, 2007 to Mr. Tourre from the head of Goldman’s structured product correlation trading desk stated in part, “the cdo biz is dead we don’t have a lot of time left.”</i><br /><br />He was surprisingly self-aware for a mere salesman.Anonymous #5noreply@blogger.com