Last week we started to look at why the asset management industry and its clients have mostly chosen to avoid isolating the portfolio managers’ skill and paying them accordingly. It seems perverse not to, but the causes are a potent mix of hubris, greed and technical complications.
上週,我們開始思考資產管理行業及其客戶爲何大多選擇避免把組合經理的技能孤立起來並據此付費給他們。不這樣做似乎荒唐,但原因包含自滿、貪婪和技術複雜性。
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