One of the most pleasurable experiences a reader can have is a new book by Al Rappaport on a subject in which they are interested. His Saving Capitalism from Short-Termism insightfully exposes the contradictions by which we incentivize money managers to require short term focus by company managers. “Incentive compensation is a devilishly complex matter” but surely we can agree that “what’s important is that fund managers and shareholder share a more equitable stake in the outcome, no matter what the mix of skill and luck”.
Again and again in rereading this book, I am struck with the author’s felicitous style in raising subject after subject in which I have long been interested, but – until this read – have not been able to resolve. Buy it, read it and enjoy.