Newsmakers

Meir Statman, Glenn Klimek Professor of Finance, spoke to Bloomberg Businessweek about a new exchange-traded fund centered on the values behind “Make America Great Again.” He noted that some people are willing to accept lower returns to invest in companies that align with their values.

An excerpt from the article:
Meir Statman, a professor at Santa Clara University who specializes in behavioral finance, says many investors are willing to accept the risk of lower returns to align their money and their values. That’s no more irrational than preferring a certain brand of car. “It’s like waving a banner that says, ‘I am a member of this tribe,’” he says. “You lose utilitarian benefits, but you gain expressive and emotional ones.”

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