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Michael Lee-Chin [1951-0] Jamaican

Rank: 106
Businessman, Business magnate

Michael Lee-Chin, OJ is a Jamaican business magnate, investor, and philanthropist. He is the founder and Chairman of Portland Holdings Inc., a privately held investment company which owns a collection of diversified operating companies in sectors that include media, tourism, health care telecommunications and financial services.

Quote	Tags	Rank
Life is not linear; you have ups and downs. It's how you deal with the troughs that defines you.		101
I wouldn't be where I am, if not for Jamaica. My formative years were here. I wouldn't have the confidence that I have if I wasn't born here, because growing up here I knew I could become anybody I wanted to become. There was no ceiling on top of me.		102
My wealth came from growing businesses. I had wealth, but not liquidity. Basically I transferred illiquid shares of AIC for liquid shares of Manulife. Now I'm the biggest individual shareholder of Manulife.		103
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.		104
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.		105
The philosophy to 'buy and hold' is a philosophy that I use to manage funds.		106
I'm making a case against how money managers are handling customers' money. 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.		107
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.		108
Private equity has been the purview of super wealthy individuals and institutions.		109
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.		110
From an early age my mother told me that there were so many of us that if I was to get anything in life I would have to get it myself. So I did.		111
You must look like a money person for clients to trust you.		112
The mantra of the National Commercial Bank is 'building a better Jamaica.' If this bank is going to be everlastingly successful, it has to take on the ailments of this society.		113
Doing business in Jamaica is not easy, but it is rewarding.		114
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.		115
My first playpen was a cardboard box.		116
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.		117

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