Don't give a Jack

Some people may eulogise the death of former GE CEO Jack Welch, aged 84. Those people -- including the fabled New York Times, which described Welch as the most influential business manager of his generation and a “superstar” -- are idiots.

Welch was one of the original "Celebrity CEOs" (he was somewhat prematurely dubbed "CEO of the Century" by Fortune), who greatly enriched himself, in the end, at the expense of shareholders (although it took a while for that to become apparent).

Few embody the confusion between talent and luck more than Welch (although SoftBank’s Masayoshi Son would come a close second, see below).