INSIGHTS

INVESTING FOR EVERYDAY PEOPLE

Ed Peters
|
November 23, 2021

Earlier in my career, I was presenting to the board of a client, a large corporate pension plan. When I opened for questions, one trustee asked me, “With guys like you out there, what chance does a little guy like me have?”

I was struck by the perception that I was one of a pack of Wall Street wolves taking advantage of the average citizen. I’ve never worked on Wall Street. I’ve always been on the buy side of the market, not the sell side. There was clearly some confusion about what it meant to work for an institutional investment firm vs. a big Wall Street corporation.

In addition, I grew up in a working class family. My parents, like many people, were ill-prepared for retirement. Because of this, my response was “I’m investing for you and all the participants in the plan so they have money for their retirement. I’m not investing for corporations. I’m investing for your employees.” For those of us who work on the buy side, investing for institutions means that we are ultimately investing on behalf of teachers, firefighters, and other groups, so that they will have security during their retirement. The participants in the plan are our true clients. When our clients are foundations or endowments, we invest so these organizations can fulfill their charitable missions.

During this Thanksgiving week, I am thankful for the opportunity to partner with these organizations and help, in a small way, everyday people like my parents prepare for retirement. In the end, it’s what keeps many of us in the industry going and it’s why we love to do what we do.

© First Quadrant, LLC, 2021. Intended for Institutional and Qualified Eligible Persons Use Only. The views expressed are the views of First Quadrant, LLC, only as of the date shown and are subject to change without notice based on market and other conditions. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice, recommendation, or solicitation of any particular security, strategy or investment product. This publication has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider its appropriateness having regard to your objectives, financial situation or needs. It is your responsibility to be aware of and observe the applicable laws and regulations of your country of domicile. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.

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