Long-term Matters
Tipping point for ESG?
01 May 2013
Over 16 months, a trust-building initiative between major private equity limited partners (LPs), private equity associations, and general partners (GPs) has delivered a ground-breaking environmental, ...
End s-factor blindness
02 Apr 2013
Sustainable capitalism is now in vogue. This is very welcome but advocates would have more credibility and impact if they paid greater attention to the ‘s’ (social) of ESG.
Put the bee back in beta
01 Mar 2013
What is the price of a bee? And more generally, where does the extinction of bee populations – and with bees much of agriculture as we know it – fit into discounted cash flow and other...
Let’s measure advisers
02 Jan 2013
Investment consultants are so easy to blame. But on ESG matters, they are now doing some very important work – perhaps a result of prodding in earlier years. Now it’s time to reward consultants for...
A dozen reasons to be hopeful
01 Jan 2013
The Chinese word for crisis has two characters – ‘danger’ and ‘opportunity’. Holding apparently contradictory ideas together is not easy. So here are 12 reasons to be hopeful in 2013.
A preventable surprise
01 Dec 2012
The world has been hit recently by a tsunami of corporate disaster. Then came the LIBOR scandal. Although interest has waned, the full story is yet to come to light. Lawyers, regulators and...
Can PE save the world?
01 Nov 2012
When private equity players come together to discuss how to be more responsible, that is noteworthy. Just five years ago such a conference would have been considered impossible. So what has triggered ...
Long-term Matters: Kay - make your voice heard
01 Oct 2012
The Kay review is the best thing we’ve had on short-termism for decades. It’s the nail in the coffin of the debate about whether there is short-termism and if investors contribute. The UK business...
Long-term Matters: Hedge fund concerns
03 Sep 2012
Hedge funds have, without doubt, delivered ‘loadsamoney’, especially for their staff and their richest and smartest customers over the past few decades. And there is also no doubt that short-selling...
Long-term Matters: Starting in their back yards
02 Jul 2012
Foundations often exist to do public good. Their mission should be both to invest and provide grants. Protecting capital should be a priority; foundations do not need to be liability driven, have no...
Long-term Matters: Shareholder Spring?
01 Jun 2012
The recent AGM votes on executive pay at UBS, Barclays, Aviva and Citi are obvious signs of fundamental change, no?
Long-term Matters: RI talk wastes time
01 May 2012
The time and money spent on long-term, responsible investing has not been very productive. Don’t get me wrong – we’ve made important progress and our common-sense approach to change was the right...
Long-term Matters: Climate a major beta risk
02 Apr 2012
Last week in Istanbul, I heard the International Energy Authority’s chief economist say the world’s on track for six degrees warming by 2100. This “catastrophe for all of us” is the mother of all...
Long-term Matters: Stop enabling corruption
01 Mar 2012
My invitation to Prague last November had one drawback. The seminar was about corporate and political corruption. How depressing. Still, invited by the liberal Brookings Institution and the...
Long-term Matters: Learning from bailouts
01 Feb 2012
Why do bankers still not get their part in, to use Ken Rogoff’s phrase, the ‘Great Recession’? And what have institutional investors learned from these bailouts? An interesting CFA Institute blog...
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