Behavior Quote by Jeremy Grantham
“...how little our side of the industry did to move its business to the more ethical firms and to make a fuss about conflicted or unethical behavior. Had a number of us moved our business, we might have slowed or even stopped the 30-year slide in conflicted, unethical behavior that we have experienced. I, for one, regret the modest nature of our moves. We all could have done more. We have tolerated a pretty nasty decline in standards. Shame on us.”
About This Quote
Source Interview: Public interview, 2023
The speaker regrets the industry's insufficient shift toward ethical firms, believing stronger collective action could have halted a long-term decline in standards.
In simple terms: Regret over weak ethical moves; stronger action could have helped.
Key Takeaway
Act ethically and influence peers.
Themes
ethics
industry responsibility
regret
Mood
reflective
concerned
Type
admonitory
inspirational
When to use this quote
- investment decisions
- board policies
- industry standards
- regulatory advocacy
Key Concepts
Corporate governance
moral hazard
collective action
Questions to Reflect On
- How can individuals drive broader ethical change?
- What incentives could accelerate industry-wide shifts?
A Different Perspective
Changing entrenched behavior is difficult without coordinated effort.
