Since we have been discussing human foibles lately, why not go to Jeremy Grantham’s monthly piece, titled Pavlovs Bulls.

I particularly like this:

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The Way the Investment World Goes Around: They Were Managing Their Careers, Not Their Clients’ Risk

Category: Psychology

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Grantham on Career vs Client Risk”

  1. VennData says:

    JG council’s that Keyne’s told Wall Streeters “…never, ever be wrong on your own…”

    Corollary One: “…Use your client’s information against them…” thereby inoculating yourself from risk.

    Merrill ponies up $10M to settle ‘clearly inappropriate’ actions

    http://www.investmentnews.com/article/20110125/FREE/110129966

    Corollary Two: If you forget Keyne’s rule. Blame it on …someone your client hates …the liberals, even if your client missed the rally from March ’09, because you’ve got their emotions on your side (emotions that have been pounded into their heads by decades of GOP marketing. )

  2. boogabooga1114 says:

    As Grantham notes, the clients don’t always want their risk managed.