Are white, middle-aged, middle-class investment managers dangerous?
I recently a seminar presented by one of the leading investment houses.
At that seminar, I listened to a series of presentations on the state of investment markets and the global economy, delivered by a series of highly respected experts.
As I was listening to the various discussions on whether dividends are at a sustainable level, and whether the yield curve might invert, something made me wonder whether we might be getting better insights if we were also listening to a more diverse group of people.
Now it’s important to recognise that white, middle-class, class middle-aged men from Western backgrounds have successfully managed the money for people for a very long time.
However, this might be because the world of business and investment was the preserve of white, middle-class middle, aged men from Europe and North America for so many decades.
But the world has changed, and it isn’t going to change back.
The rise of the Far East and China is unlikely to stop, and women aren’t going to leave the workplace.
And it strikes me that more diverse teams might have better insights into the risks and opportunities for investors in the future.
A female Chinese expert might be able to give us an insight that a 45 year old male from the Home Counties might not see.
Now you might say that I should take a look in the mirror. After all, I’m not very diverse myself!
But I do recognise the additional insight that we gain from diverse backgrounds, and hope to take that on board when advising my clients.
The world of investment is largely about risk and opportunity.
By failing to include a wider range of voices and opinions, the investment community may be failing to identify the risks to our financial security.
White middle-class middle-aged men might be more dangerous than you think.By failing to include a wider range of voices and opinions, the investment community may be failing to identify the risks to our financial security Click To Tweet