04/12/2016
"We need a system in which investors are just one of many constituencies, and the financial goal is to maximize the probability of remaining profitable over an extended time horizon. Profit has to become a means, not an end."
Good post. Made a lot of strong points. A couple others:First, there's only one class of investor CEOs like Rubel care about - the insider-manager. Providing the bulk of CEO compensation in stock may have started out a way to align investor and management interests but it always seems to work out a…