United “decided they had seen enough”, notes Wiggins, and made him permanent manager on March 28th.Everything has gone wrong since then, with United winning only two of their last 10 games of the season.
United “decided they had seen enough”, notes Wiggins, and made him permanent manager on March 28th.Everything has gone wrong since then, with United winning only two of their last 10 games of the season.Manchester United manager Ole Gunnar Solskjaer: ‘United’s assumption was there was a “causal link between Solskjær’s skill as a manager and the upturn in the team’s fortunes”.’ Photograph: Andrew Yates/Reuters Short-term thinking, confusing skill with luck, the lure of a good story – Manchester United’s decision to appoint the unproven Ole Gunnar Solskjaer as their manager was a mistake, according to Aberdeen Standard fund manager Joe Wiggins, and one that investors can learn from.
Solskjaer had “little managerial pedigree”, writes Wiggins on his Behavioural Investment blog, outside of a disappointing eight-month spell in the Premier League (he was sacked by Cardiff City after the club was relegated in 2014) and a longer tenure in the minor Norwegian league.
However, as a former United player, Solskjaer was a cult hero at the club and it was hoped he would steady the ship, giving them time to appoint a more experienced manager in the summer.
Our coach started half an hour late thus delaying our journey.
We reached Manchester at 12 noon and rushed to Old Trafford where there is the fabulous museum of Manchester United.
I remember many of my friends kept messaging me full of envy (especially the football fans! We had decided not to buy anything as we had already spent too much in this month. But who can control the urge to shop when you enter the Manchester United Museum Shop?
I bought a muffler for my father with Manchester United written on it.
United’s assumption was that there was a “causal link between Solskjaer’s skill as a manager and the upturn in the team’s fortunes”, says Wiggins – an “instinctive conclusion” but “not necessarily the correct one”.
Simple mean reversion may have been at work; a manager will usually be sacked after an unusually poor run of form, so the subsequent upturn may be partly explained by reversion to the mean.
The bus timetable depicted that the bus comes in every five minutes. Many people around us said that this might be because it was raining. All in all, it was a great trip with minor complications.
I don’t know whether it was because of the rain or Manchester having a poor public transport (as compared to London). But we never thought we would reach the coach station on time.