3min chapter

Masters in Business cover image

Ted Seides on the World’s Elite Money Managers

Masters in Business

CHAPTER

Don't Be So Short Term

David Swenson: I've always viewed investing as a probabilistic game. He says investors who express absolutes in a world of probabilities don't get the job done. The best money managers blend conviction with humility, he says. But short-termism is an intractable problem because of incentive systems for asset management firms and their staffs,. said Swenson.

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