Tuesday, June 29, 2004

WSJ.com - What Would Adam Smith Say?

Claiming this regulation would effect shareholder returns is poppycock.

"Forcing the boards of these firms to elect less qualified chairmen will lower the returns of these firms, lower returns in the industry as a whole, make mutual funds a less attractive investment choice, and penalize investors whose savings are in these institutions and who find mutual funds the preferred choice for their 401(k)s."

So the reg will make these fiduciaries intentionally hire less qualified candidates? Puh-leaze. And how exactly will these chairmen lead to lower returns when it is the Pm and his or her team of analysts who make the decisions on what to buy or sell?

There are a lot of cows on tha farm. So many that there is a need for many bulls. And where there are a lot of bulls.....

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