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MiB: Charlie Ellis on Vanguard’s Rules of Investing

The Big Picture

Ellis recalls that “Bogle was a force of nature” who created and honed the firm’s philosophy and culture of strong ethics. This is our third conversation with the finance legend (see 2015 and 2017 editions). But Ellis also points out that most of the firm’s growth took place after Bogle stepped down as CEO.

Investing 173
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10 Sunday Reads

The Big Picture

My Sunday morning look at incompetency, corruption and policy failures: • Inside Sam Bankman-Fried’s Family Bubble : At Stanford Law School, Joseph Bankman and Barbara Fried specialized in ethics and social fairness. He disclosed none of these activities on his annual disclosure forms, an obvious violation of federal ethics law.

Ethics 130
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2017 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

2017 Berkshire Hathaway Annual Shareholder Meeting achen Mon, 06/12/2017 - 15:11 Thousands of people come to Omaha each spring for the Berkshire Hathaway annual shareholders’ meeting to hear the insights of Warren Buffett and Charles Munger, Buffett’s longtime business partner. annualized compared with 6.9%

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2017 Berkshire Hathaway Annual Shareholder Meeting

Brown Advisory

2017 Berkshire Hathaway Annual Shareholder Meeting. Mon, 06/12/2017 - 15:11. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. annualized compared with 6.9% Index Fund Investing Versus Berkshire (or Active Management).

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The Bad Actors

The Irrelevant Investor

There is no way that Wells found the 14,000 least ethical financial advisors in the industry. million at the start of 2017, had been charged $128,000 in commissions that year — nearly 10 percent of its valu e, and about 10 times what many financial planners would charge to manage accounts that size.

Ethics 52
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When Should the New Yew York Department of Financial Services have Rehabilitated American Transit Insurance?

Aleph

In their 2018 MD&A, they said: “The Company has rejected the reports for December 31, 2018 and 2017 from its independent actuary. Actuaries are bright, and they have an ethics code that they have to follow. In the life insurance business, management teams can’t push around their appointed actuaries (at least not much).

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Psychology, Purpose, People: How Female Founders Are Building New Ventures

Brown Advisory

billion in venture funding in 2017—a healthy number but still just a small fraction of the $85 billion raised overall. She views failure due to negligence or poor ethics as totally within her control, and is comfortable with the idea of failure for other reasons. According to PitchBook, female-founded startups raised $10.5

Startup 52