Seeking Virtue in Finance: Contributing to Society in a Conflicted Industry. 2020. J.C. de Swaan. Cambridge University Press.
J.C. de Swaan, a Princeton professor and investment practitioner, has produced a valuable guide for those navigating the ethical challenges in the finance industry. The book, “Seeking Virtue in Finance,” presents compelling narratives about practitioners who have lived exemplary professional lives and sheds light on the moral corruption and scandals that plague the industry.
The book is well-structured and covers a wide range of topics including financial illegality, moral corruption, and Socratic meditations on the nature of private and public morality in finance.
The author offers clear and concise descriptions of common malfeasance and scandals in the financial industry, and provides inspiring stories of practitioners who have prioritized public virtue over personal gain.
De Swaan also delves into the gray areas and trade-offs, raising thought-provoking questions about the societal impact of financial professionals’ actions and the ethical dilemmas they face.
While the book offers valuable insights, it does have some factual inaccuracies and overlooks the systemic issues that contribute to ethical transgressions in the finance profession.
The book emphasizes the need for systemic changes in the finance industry to address the ethical and legal challenges it faces.
Despite its minor shortcomings, this volume is highly recommended for practitioners navigating the ethical complexities of the finance industry.
All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.
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