Ellis: Fiduciary duty must precede commercial profit in asset management
Charlie Ellis · Charley Ellis – The Magic of David Swensen (Capital Allocators, EP.197) · May 31, 2021 · at 7:15
Charley Ellis, former Yale Investment Committee chair, explains the core philosophy he shared with the late David Swensen regarding the distinction between the profession and the business of investing.
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“The business part is really nice, but it is not the motivating force and it is not what we should be aiming for. We take it because it comes, but the real purpose is the professional side.”
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