WORDS OF WISDOM

Some wise quotes regarding RENN's unique approach to investing.

"70% of the nation’s big family fortunes are less than 13 years old, according to The Harrison Group, a research and marketing firm. And the people who amassed those fortunes are primarily entrepreneurs -- risk takers for whom wealth is a byproduct of pursuing their passion."
-MSN Money

"Many investors mistakenly minimize the beneficial impact of the continuing presence of a founder on an organization, but patient holders have reaped the rewards of having a (Warren) Buffet, (Fred) Smith or (James) Sinegal at the helm."
- Andrew Bary. "The World's Best CEOs". Barron's

According to Herb Kelleher, co-founder and chairman of Southwest Airlines, there are six natural born characteristics that a person would need to achieve entrepreneurial success:

1. a reasonable intelligence
2. good health
3. optimistic disposition
4. lengthy attention span
5. perseverance
6. a love of people.

There are 7 learnable skills that are key contributors to success with new enterprises:

1. good listening skills
2. ability to play passionate advocate
3. broad knowledge and education
4. sound judgment
5. ability to separate the important things from the unimportant
6. ability to set priorities and focus on goals
7. pleasant skepticism

The previous information was taken from a February 2003 interview of Herb Kelleher shown on www.babsoninsight.com titled Entrepreneurs: Born Or Made? A Conversation With
-Herb Kelleher of Southwest Airlines.

"In a capitalist economy, whoever attracts the most capital wins."
-Thomas Edison

"The best promoted technology will often beat the best technology."
-Thomas Edison

"Firms with bad corporate governance pay the CEO more, but it's a really small effect-only 10% on average."
-Xavier Gabaix, Ph.D.

"Vision without implementation is hallucination."
-Benjamin Franklin

"We believe that China’s robust economic growth and strong entrepreneurial culture will result in extraordinary levels of wealth creation."
-Andrew Tung (Mr. Tung runs Citibank’s private equity banking business), Wall Street Journal, June 5, 2007

"There is a realization, now more than ever, about how important entrepreneurial thinking is."
-Randy Swangard, managing director of University of Oregon’s Lundquist Center for Entrepreneurship The Sunday Oregonian June 10, 2007