CLE on Prudent Investing

Columbia Law School and the Trusts and Estates Section are sponsoring a Symposium on September 23, 2011 that will cover the precepts of the prudent investor. The Save the Date for the Symposium is below:

Save the Date

Symposium on Prudent Investing for Trustees in light of the recent financial downturn—Friday, September 23, 2011

The Trusts and Estates Section, in conjunction with Columbia Law School, is sponsoring a Symposium to revisit the precepts of the prudent investor in light of the financial debacle of 2008.

The theoretical underpinnings of the change from the prudent person rule, with its focus on avoiding speculation and evaluating one investment at a time, to the prudent investor, with its emphasis on diversification, and view of risk as based on historic volatility, were Modern Portfolio Theory and the Efficient Market Hypothesis.

Thoughtful voices have been raised questioning the soundness of these theories and the Section decided that a reconsideration of what constitutes prudent investing for a trustee was in order– hence the Symposium, to be held at Columbia on Friday, September 23, 2011.

The participants in this Symposium could hardly be improved upon: They are:

Legal academics: Professors: Robert H. Sitkoff of Harvard Law School; Max M. Schanzenbach of Northwestern Law School; Joel Dobris of UC Davis Law School; Stewart E. Sterk of Cardozo Law School and Ken Joyce of Buffalo Law School.

On the financial side: Stephanie Luedke and Mackin Pulsifer of Fiduciary Trust; Scott Clemons of Brown Brothers Harriman; David A. Levine, formerly of Sanford Bernstein; Eugene Maloney of Federated Investors; Jim Garland of The Jeffrey Company; Rob Arnott of Research Affiliates; Don Wilkinson III of Wilkinson O’Grady; Barbara Tarmy of Neuberger Berman; John Campbell who chairs the Harvard Economics Department and is a founder of Arrow Street Capital; and James Montier of GMO.

There will be CLE credit and no charge for admission. Hold the date! If you would like to attend, save a place by email to mordover@cullenanddykman.com.