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By Simon EDELSTEN manages global equities at Artemis Investment Management
From the ancient classics to modern cinema, superheroes come with flaws. Achilles had his heel. Ironman his heart. Today's corporate crusaders are no different. Their most common flaw is hubris.
This year many people have paid the price for that hubris. Ask those who supported Sam Bankman-Fried's cryptocurrency platform, FTX; or Twitter staff made redundant following Elon Musk's takeover; or investors who bought shares in Mark Zuckerberg's Facebook before it became Meta. As shareholders we can assume there are controls to limit the powers of charismatic bosses when overarching self-belief becomes a problem. Boards are there to ensure probity and monitor the...
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