come as a surprise to find Joe Torre speaking to delegates yesterday at the Fourth International Conference on Hedge Fund Investments.

And while the New York Yankees manager may not be the best guy to ask about your portfolio, there probably aren't many better to teach about leadership, perseverance and success.

Brought to the Island by Management Accounts Reports (MAR) Inc., a US-based mutual fund analysis firm, Torre largely spoke on the subject he knows best: Baseball. But the ties to the business world were unmistakable when he talked of motivating flaky employees, soothing a volatile boss and maintaining your confidence in the face of cut-throat competition.

"The thing that works for me is believing in the players and believing in myself,'' said Torre, whose Yankees were knocked out by the Cleveland Indians in the divisional play-offs this past season.

"You can't let things that happen negatively affect what you do ... You make decisions on what you feel is best. If it doesn't work out, all it means is it didn't work out. It doesn't mean you made the wrong decision.'' Torre has spent 35 years in the game, managing three other teams for a total of 13 years. But it wasn't until a year ago, after some 4,000 Major League games, that he reached the pinnacle, guiding the Yankees to a World Series win over the Atlanta Braves.

It wasn't easy, what with his brother, Frank, undergoing a heart transplant, a snarky media hunting for gossip and an interfering owner, George Steinbrenner, ready to second-guess every move.

In a 30-minute address and another 30 minutes of questions from a Southampton Princess audience of about 200 mostly middle-aged men, Torre drew laughs with anecdotes of players such as Bernie Williams and Rueben Sierra, coaches such as Don Zimmer and, of course, the mercurial Steinbrenner.

"Every time we lose a game, he thinks we're going to get swept,'' Torre said of The Boss. "And every time we win game it's because we're supposed to.'' Executives could also relate to Torre's dealings with players. Among his philosophies: Allow individuality but don't play favourites; "Know where everyone fits into your plan''; Recognise the importance of role players, no matter how small their role.

Let players be human and let them know that it's okay to be frightened.

Get players to believe in themselves. "It's important that they know the manager is on their side,'' said Torre.

"I'm a firm believer in your mind rules your body.'' Stress team-work particularly with a player who's obviously dogging it. "I try to preach, `don't screw the guy next to you'.'' Be patient and be prepared.

Torre also noted the problems facing the game. While he skirted around a question over whether athletes are overpaid, he did say most of today's athletes lacked fundamentals and "a burning desire to win.'' He added that baseball must do a better job of marketing and alleviating distrust between management and players, not to mention competition between owners.

Torre also had harsh words for umpires, notably their power over the game and their "horrendously'' inconsistent strike zone.

As for the just-concluded World Series, Torre was happy for his good friend, Florida Marlins manager Jim Leyland. But he admitted he had difficulty watching a game in which he felt his team should be playing. "It's a little like watching somebody else eat a hot fudge sundae,'' he said.

JOLTIN' JOE -- New York Yankees manager Joe Torre yesterday spoke about baseball, life and leadership at the Southampton Princess.

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