Blackrockchef om ”Our Gambling Culture”

Blackrockchef skriver i et essay om “Our Gambling Culture” om årsager og konsekvenser af den kortsigtede spillerkultur, som har taget hårdt fat i aktiemarkederne. Senest har endda også A.P. Møller-Mærsk vist tegn på at være i lommen på kortsigtede investorer, som hellere vil have store udbytter end langsigtede investeringer, efter salget af aktieposten i Danske Bank. ”There’s a host of reasons short-termism has taken hold in our culture, both in the United States and more broadly. Greed and the media’s reliance on daily bombardments of bad news certainly play a part, but more important, we’ve lost sight of our actual goals. It’s in everyone’s interest to provide opportunities for education, a reasonable level of healthcare, and a secure retirement for the most people possible, just as we should all be working to conserve our natural resources to assure that clean air, clean water, and renewable fuel sources are available to our children. Instead, we’ve become mesmerized by the possibility of short-term, one-off gains. There’s a chicken-andegg problem at work. In many cases, there is a serious misalignment of incentives.