Pension trustees: Corporate governance and the behavior gap
from CFA Institute Enterprising Investor
When I entered institutional investing, I believed this buttoned-down world would be different — at least from the retail space. I expected professional boards composed of professional people with business backgrounds and advanced academic degrees. I imagined institutional investment management would be like the Intel Pentium MMX commercials from the late 1990s, those “Play that Funky Music” ads with the people in the white clean room suits: predictable and dependable, not a speck of dust and nothing out of place.
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