In my last post I discussed several strategies institutions and families have employed to keep investment committees focused on their stewardship obligations. A number of readers have written in to ask what sorts of errors investment committees tend to make, and so in this post I will describe some of the more common problems.
In my last post I discussed the dysfunctional nature of so many investment committees and offered some observations about why this might be such a widespread phenomenon. In this post I examine some of the more widespread attempts to control – reign in? – investment committees, in the hope that they might offer better stewardship of the assets under their care.
One day about ten years ago I came home from work and mentioned to my wife that I’d just joined the Investment Committee at Carnegie Mellon University.
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