This is a bit daunting. I’m giving a lecture named after Adam Smith. In a college where the first Director of Studies in Economics was John Maynard Keynes. No pressure at all. Twenty-five years ago, I had an epiphany. I was, at the time, the New York City official in charge of investing the City’s […]
Gadfly importance to democratic corporate governance is often underrated. We are currently under attack by the Business Roundtable (BRT) and others seeking to substantially raise the ownership threshold for submitting and resubmitting proposals. BRT, for example, contends proposals from small shareholder divert “significant time and resources to issues that, at best, have an attenuated connection to the […]
More beta is what investors should focus on order to increase long-term returns, argue Jim Hawley and Jon Lukomnik in their paper, The Long and Short of It: Are We Asking the Right Questions? – Modern Portfolio Theory and Time Horizons (download). That has also been the objective of Corporate Governance (CorpGov.net) since 1995. I […]
The SEC misses 85% of fraud. GMI’s model is designed to identify fraud in advance. I’d love to see funds using this system to modify their indexes. If many do so, it could be one of the biggest tools in improving corporate governance. (more…)