Chapter 1: Introduction
The First Imperative: Be Well-Governed
Chapter 2: Crisis
Chapter 3: Fiduciary Duty
Chapter 4: Good Governance
Practitioner Focus: Board Self-Assessment
The Second Imperative: Be Knowledgeable and Beware of Common Errors
Chapter 5 - Human Error and Behavioral Finance
Practitioner Focus - How Much Endowment is Enough?
Chapter 6 - Knowledge Not Just for Knowledge's Sake
Chapter 7 - Origins of Financial Illiteracy
Practitioner Focus: Investment 101 and Foundation Board Basics
The Third Imperative: Be Diversified
Chapter 8 - 30,000 Products
Practitioner Focus - Cryptocurrencies
Chapter 9 - Theory Time
Practitioner Focus - Return Targeting
Chapter 10 - Over-diversification
Practitioner Focus - Why Over-complicate Things?
The Fourth Imperative: Be Disciplined and Control Costs
Chapter 11 - The Active vs. Passive Debate
Chapter 12 - Active vs. Passive-The Evidence
Chapter 13 - Cost Savings and What Really Matters
Practitioner Focus - Fee and Expense Reports: What to ask your Consultant for on an Annual Basis
The Fifth Imperative: Be Impactful
Chapter 14 - Farewell to Uncle Milt
Practitioner Focus - Doesn't ESG Investing Pose a Conflict with Fiduciary Duty?
Chapter 15 - ESG Challenges
Practitioner Focus - What Exactly is the Difference between SRI and ESG?
Chapter 16 - Ok, I've Bought In...Now What?
Practitioner Focus - Writing ESG into your Investment Policy
About the Author: Christopher K. Merker is a Financial Advisor and a Director of Private Asset Management at Robert W. Baird & Co. Incorporated, where he provides advice and guidance to the boards and investment committees of institutional investors. He holds a PhD in investment governance and fiduciary effectiveness from Marquette University. He is past president of the CFA Society Milwaukee, and a founder and current board member of the CFA Society Milwaukee Foundation, a sister organization dedicated to promoting financial literacy. An adjunct professor of finance at Marquette University where he teaches the investment course Sustainable Finance, he is also executive director of Fund Governance Analytics, a provider of environmental, social, and governance (ESG) research and diagnostic tools for asset owners and institutional investors. He publishes Sustainable Finance, which covers current topics around governance and sustainability in investing.
Sarah W. Peck is an Associate Professor of Finance at Marquette University. Sarah earned her undergraduate degree from Yale University and a PhD from the University of Rochester. She has spent two decades researching topics in corporate governance with a focus on the board of directors publishing in The Journal of Financial Economics, The Journal of Corporate Finance, The Journal of Forensic Accounting, among others. She is director of research at Fund Governance Analytics, where she leads research into environmental, social, and governance (ESG) factors. She wrote the book Investment Ethics (2010) and pioneered an investment ethics course for CFA(R) educational partners. Following the 2006 pension scandal, she joined the Milwaukee County Pension board where she served as a trustee and chair of the Investment Committee for seven years. She regularly participates in panel discussions with trustees of pension funds and endowments on topics around integration of ESG into investment strategies.
