James Montier “Shareholder Value Maximization: The World’s Dumbest Idea”

James Montier speaks about “Shareholder Value Maximization: The World’s Dumbest Idea” from the European Investment Conference.

Some of the topics that will be covered include: The myth of shareholder value maximization (SVM) and its “unintended” consequences; Distortions in the economic landscape because of the disproportionate pursuit of SVM; SVM’s links to low rates of real investment, rising inequality, and labour’s declining share of income.

H/T PragCap

Michael Mauboussin: Here’s what active managers can do

michael mauboussin, Credit Suisse, valuation and portfolio positioning, capital markets theory, competitive strategy analysis, decision making, skill versus luck, value investing, Legg Mason, The Success Equation, Think Twice: Harnessing the Power of Counterintuition, analysts, behavioral finance, More Than You Know: Finding Financial Wisdom in Unconventional Places, academics , valuewalkThe debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More