He does not have to. Anything that’s not a core expertise of the fund is outsourced. He does not even do his own stock accumulation. Most of the things you mentioned are occasional and you don’t have to have a person in-house for it - an investment bank can help with it just as well. I think we both of an opinion that most massive fuckups are due to ego more than anything else. Thinking you’re smarter than all is the worst flaw to have in the markets.
Improving a business is hard even if you actually understand the industry you are in (that's why there are so many underperforming companies). I would posit that the only value an activist can bring is that he can shake up a dysfunctional status quo: for example managers who continue to hold underperforming businesses as an ego project or a board who supports a weak CEO. While I don't think many activists directly create better companies, I believe there have been studies that show that the threat of an activist investor tends to keep CEO's honest and shareholder focused.
Come to think of it, there are two distinct flaws, both bad but a combination is truly deadly. Flaw 1. “I am the smartest guy in the room” Flaw 2. “I am right and will fight instead of listening”
“I love money. I love money more than the things it can buy. There's only one thing I love more than money. You know what that is? OTHER PEOPLE'S MONEY.”
Do not be too greedy now. There is something called health that comes before money. Yes, something that all the money in the world cannot buy!
Also in pursuit of "money money money" people also hurt themselves and deny ownself of many much cheaper and cheerful joys of life. The natural law is that not every one is a millionaire, 1 in 100? so folks have to find joys in general things and money will follow with only "little extra effort" and not "painful extra effort".