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by sicp-enjoyer
1355 days ago
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Complaining about finance compensation is common, but like sales, it's directly tied to earnings. Suppose you take an easy strategy and get 6%. Suppose a professional can work hard and get 6.2%. It's well worth paying for that top performer when you have a pension of $500 million. My guess is that much of the distortion is caused by moral hazard where pensions know they will be bailed out for taking ridiculous risks, not because they pay professionals to manage money. |
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