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One of our advisers who knows the Swiss pension system well said the following:

"It is mind boggling how people are reluctant to see the bigger picture. They are stuck in their little sliver of the world and defend their view based on completely limited assumptions.

"Also the argument about representation in the boards is flawed... the dynamics in those meetings can be very disturbing... whoever postulates the most gets their way. So, it’s not decision by democracy but decision by ego. It can be quite toxic."

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