Publication Date
Most of us have been brought up to believe that free markets combined with healthy competition deliver good outcomes. We also presume that what holds true in goods markets also applies in financial markets. The reality has made a mockery of this belief. Capital markets have come to resemble less the embodiment of efficiency, more a war zone. If foundations adopted investment policies more in line with this reality, they could secure better long-term returns on their own investments. At the same time, as large institutional investors, they could play a significant role in shaping the future of long-term investing and helping to bring stability to financial markets.
Published in the Alliance Journal for foundations.
