The Iron Lady: A Life

How do you summarize a life?

Margaret Thatcher came into leadership at a singular time. Britain’s economy was under IMF supervision. Inflation was rampant. Public sector and mine worker strikes were crippling the country’s industrial base. Electric brown-outs and black-outs were a regular fact of life. Margaret Thatcher refused to accept the notion that England was limping towards a small future. The Russian papers tried to ridicule her with the nick-name “The Iron Lady,” a moniker she rather relished.

Many have mentioned her whole-hearted embrace of capitalist competition, her all-in liberation of the Falklands, or her resolve in the face of IRA terrorism that almost killed her, but I think what is most striking is her enduring legacy of leadership. In the ‘70s, when she was rising in political power, everyone was looking for compromise, for the middle ground. Thatcher would have none of it. In her view, that approach would destroy democracy, because no one would know the alternatives.

Instead, she advocated full-throated debate. She had no use for toadies or empty words. She welcomed advocacy of alternatives, and then decided. And she could be very patient, provided she got what she wanted in the end.

Thatcher’s formidable force changed the world. And she got what she wanted.

Douglas R. Tengdin, CFA

Chief Investment Officer

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By |2013-04-10T10:06:27+00:00April 10th, 2013|Uncategorized|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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