Perspectives: Fairness Outside the Cocoon

Posted: 30 Dec 2004

See all articles by Meir Statman

Meir Statman

Santa Clara University - Department of Finance


Investment bankers, security analysts, traders, and other finance professionals often behave as if they lived in a cocoon. They need to recognize that they live under the community's rules of fairness as well as the market's rules. Through anecdotes, quotations, and survey reports, this article discusses how internal and external obstacles keep finance professionals from perceiving the community's rules of fairness - rules that often make their way into the law. Ultimately, those who fail to understand and follow the community rules of fairness are taking risks they would be wise to avoid.

Keywords: Ethics and Professional Standards, Interpreting or Analyzing Ethical and Professional Standards, Other

Suggested Citation

Statman, Meir, Perspectives: Fairness Outside the Cocoon. Financial Analysts Journal, Vol. 60, No. 6, pp. 34-39, November/December 2004. Available at SSRN:

Meir Statman (Contact Author)

Santa Clara University - Department of Finance ( email )

500 El Camino Real
Santa Clara, CA 95053
United States
408-554-4147 (Phone)
408-554-4029 (Fax)

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