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Pace University

Series

Investments

1976

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Full-Text Articles in Law

Prudence, Information, And Trust Investment Law, John A. Humbach Oct 1976

Prudence, Information, And Trust Investment Law, John A. Humbach

Elisabeth Haub School of Law Faculty Publications

Professors Langbein and Posner recently proposed that fiduciaries be allowed to invest in market funds under a relaxation of the prudent investor standard. But a relaxation of the selectivity requirements may be destructive of capital market efficiency and perhaps of the capital markets themselves.