On (Business) Ethics & Seth Klarman, Harvard Business School Alumni address

As 2018 draws to a close, like many I reflect on the year that was. I consider my impacts, both personally and professionally, and what I could do differently or better in the years ahead. Professionally I introspect about the industry I operate within and its impact on society. I have equally great conviction that this industry delivers significant benefit to those it serves and that there is still much room for improvement, particularly at the ‘big end of town’.

Through 2018 the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services has live-streamed many of the things which are broken and in urgent need of repair. I wont re-hash these; you can revisit via the above link. In relation to the same I have previously blogged that ‘Greed is the problem and Fear is the solution’.

[endif]--In his recent ‘Hard Choices’ address to the Harvard Business School Alumni, Seth Klarman touches on the heart of these issues. He observes the continual need to make ‘hard choices’ in light of often competing ethical, social and financial priorities. This plays out equally in business, politics and indeed life.

“One of society’s most vexing problems is the relentlessly short-term orientation that manifests itself in investing, in business decision-making, and in our politics.” Seth Klarman, HBS Alumnus.

It is an excellent address which has been transcribed here. I do trust you will enjoy it and perhaps reflect on what you could do differently.

Of course, we’re not perfect, however we strive to put our clients’ best interests front and center in all our decisions. ‘Do no Harm’ is a good starting point. Ultimately, we exist to improve the lives of our clients and their families.

I’d like to take this opportunity thank you for your support in 2018 and wish you and your loved ones a healthy and prosperous 2019.

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