Bridge over ocean
1 November 2004 Financial Analysts Journal Volume 60, Issue 6

Fairness Outside the Cocoon

  1. Meir Statman, PhD

Investment bankers, security analysts, traders, and other finance professionals often behave as if they lived in a cocoon. They need to recognize that they live under the community's rules of fairness as well as the market's rules. Through anecdotes, quotations, and survey reports, this article discusses how internal and external obstacles keep finance professionals from perceiving the community's rules of fairness—rules that often make their way into the law. Ultimately, those who fail to understand and follow the community rules of fairness are taking risks they would be wise to avoid.

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