As an investment adviser, what lessons can you possibly learn from the U.S. Coast Guard’s response to Hurricane Katrina?
This year marks the tenth anniversary of Hurricane Katrina, which slammed into New Orleans on Aug. 29, 2005. The Coast Guard rescued 24,500 people during the first nine days of the crisis, and was one of the few government agencies to put up a coordinated, aggressive and successful response. Following the crisis, Congress held hearings to determine why the Coast Guard got it right, and why most other first responders failed.
Here are 7 lessons advisers can learn from the Coast Guard’s response to Katrina: