GE's Jeff Immelt is Consistently Wrong, and that is Valuable!

A famous person once advised me that following someone who is frequently wrong is worth doing. Granted, Jeff Immelt inherited a mess on 7 September 2001 from one of the luckiest managers living (Jack Welch). Still, he destroys economic value virtually everywhere he acts, whether at GE or as President Obama's Stimulus Chief. And now he rushes into Africa--absurd and indefensible if he hopes to bring capital and risk-adjusted financial returns back home to GE's American base.