In our work across Indian Country I'm always saddened when I present our firm to Tribes who "manage" Minors Trust fund assets in stock portfolio's that are managed on a "relative" basis versus an "absolute" basis.
It is a huge waste of money for the children in the future and a huge lost "opportunity cost" in fighting back to get "even" for the money manager. It is unnecessary and almost evil for the kids who need it the most and the vast majority of Tribal asset managers haven't a clue of what I am talking about. That's scary in itself.
As a long/short manager who manages our methodology on an "absolute" basis it almost makes me cry when I try to talk to Tribal overseers who don't know and don't seem to care.
Once again, Native kids being left behind from the get-go.
No comments:
Post a Comment