The Search for a Long-Term Premium
The Harvard Law School Forum on Corporate Governance and Financial Regulation 2017-07-17
Jaap van Dam, principal director of investment strategy at PGGM, one of the world’s largest asset owners known for its commitment to long-horizon investing, once asked what he called the million-dollar question: “Can we be reasonably certain that we will be rewarded for being a long-horizon investor? Because, if we’re not, then why bother?”
A sound answer to this question, as Jaap rightly put it, will determine whether long-horizon investing will really take off among asset owners.