With various performance metrics to choose among, might fund managers be tempted to cherry-pick those that reflect most favorably on their performance?
"If life were unchanging, then options would not be as valuable, but life is always changing, which makes options and the ability to deal with uncertainties very precious." — Myron Scholes
The freedom to invest responsibly and the principle of risk management must be defended, and that requires us to go back to basics.
The proxy voting system has taken on added importance amid growing interest in environmental, social, and governance (ESG) issues and how investors vote on related shareholder proposals. So, how can we improve it?
We need to reconnect the economic implications of accounting for depreciation with goodwill amortization / impairment and other one-time charges.
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