TwitterFacebookLinkedInEmailRSS
logo

An editorial blog of CFA Society Minnesota

  • Home
  • About Us
  • Contact Us
    • Compensation Survey Contact Form
  • Subscribe to Blog via Email

Monthly Archives: February 2019

CFA Society Minnesota Annual Dinner Recap

5th February, 2019 · CFAMNEB · Leave a comment

By Claire Underhill, undergraduate Finance major at the Carlson School of Management. Claire is also on the Healthcare team of the Carlson Growth Equity Fund, and has been involved with the program on a volunteer basis for over a year. 

The 2019 CFA Society Minnesota Annual Dinner featured a conversation with author Bethany McLean, moderated by Andrew Rem, CFA (CFA Society of Minnesota Board member), and aided by Past President Josh Howard, CFA. McLean is currently a contributing editor at Vanity Fair, and has also written multiple books such as “The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron.” The evening featured a wonderful discussion as McLean tracked the progression of her career from starting as an analyst at Goldman Sachs, to joining Fortune Magazine as a fact-checker, which ultimately led to her first novel and current role.

Her latest work, “Saudi America: The Truth about Fracking and How It’s Changing the World,” explores the economics around fracking. McLean is skeptical of the drive for energy independence, and makes the case for how fracking might change the geopolitical landscape – though not in the way you might think.

Throughout her career, Mclean has documented multiple instances of business gone wrong and has learned a few things about what she calls “the progression of rationalization.” She talked about the need we have as a society to find who the bad guys were in the wake of crisis, and punish those responsible. Oftentimes, though, the world is not so clear-cut. The line between a visionary and a fraudster can become blurred by the complex human drama and emotions that naturally surround the process of building something innovative. McLean’s key tool in deciphering these dramas? Curiosity. When asked about how she gets people to talk to her, McLean stated that being genuinely interested in what people have to say goes a long way. Through this approach, McLean has developed a unique lens for people who have crossed ethical lines. Good people taking gambles to cover-up for their last mistake. Powerful culture that inflates egos.  

What can be done to fix these problems? McLean said the challenge with regulation is that it is always backward looking and often lacking in imagination. Regulators are always stuck trying to fix yesterday’s problems without the ability to predict what might happen next. Furthermore, even if all accidents are prevented, McLean argues that creativity would also leave the system. This system has failed in front of McLean many times, yet she still views business as a signal of hope. After spending so much time writing about unethical behavior, McLean describes herself as a skeptic, not a cynic, and loves to see the transformative power that business can have in a community.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
Posted in Hot Topic Commentary | Tags: Bethany McLean, CFA Society Minnesota Annual Dinner, ethics, Fortune Magazine, Saudi America: The Truth about Fracking and How It's Changing the World, The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, Vanity Fair |

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

  • Important Minnesota Financial Literacy Legislation Update 03/20/2023
  • New Financial Literacy Effort Launched for Minnesota Communities and Schools 09/30/2022
  • End of an Era 07/26/2022
  • Starting my Midwestern Goodbye 04/05/2022
  • Face-Off 10/18/2021

Submit your inquiry here

Categories

  • Compliance (3)
  • Department of Labor Fiduciary Rule (1)
  • Ethics (7)
    • Ask the Ethicist (2)
  • Freezing Assets Shout Out (34)
  • Hot Topic Commentary (177)
  • Intellisight (1)
  • Local Charterholders (88)
  • Member Spotlight (4)
  • Society President Letters (15)
  • Spotlight on MN Companies (1)
  • Valuation (2)
  • Weekly Credit Wrap (35)

Archives

  • March 2023 (1)
  • September 2022 (1)
  • July 2022 (1)
  • April 2022 (1)
  • October 2021 (1)
  • August 2021 (1)
  • May 2021 (1)
  • February 2021 (1)
  • January 2021 (2)
  • October 2020 (2)
  • September 2020 (2)
  • August 2020 (1)
  • June 2020 (1)
  • February 2020 (1)
  • December 2019 (1)
  • November 2019 (2)
  • October 2019 (1)
  • September 2019 (1)
  • August 2019 (1)
  • July 2019 (2)
  • June 2019 (1)
  • April 2019 (3)
  • March 2019 (2)
  • February 2019 (1)
  • January 2019 (2)
  • December 2018 (1)
  • November 2018 (2)
  • October 2018 (3)
  • September 2018 (1)
  • April 2018 (3)
  • March 2018 (8)
  • February 2018 (3)
  • January 2018 (1)
  • November 2017 (5)
  • September 2017 (1)
  • August 2017 (3)
  • July 2017 (1)
  • June 2017 (1)
  • May 2017 (1)
  • April 2017 (2)
  • March 2017 (1)
  • December 2016 (2)
  • November 2016 (2)
  • October 2016 (1)
  • September 2016 (1)
  • August 2016 (1)
  • July 2016 (2)
  • June 2016 (5)
  • May 2016 (2)
  • April 2016 (2)
  • February 2016 (5)
  • January 2016 (3)
  • December 2015 (1)
  • November 2015 (4)
  • October 2015 (6)
  • September 2015 (1)
  • July 2015 (1)
  • June 2015 (6)
  • April 2015 (2)
  • March 2015 (4)
  • February 2015 (2)
  • December 2014 (2)
  • November 2014 (7)
  • October 2014 (10)
  • September 2014 (3)
  • August 2014 (5)
  • July 2014 (2)
  • June 2014 (5)
  • May 2014 (9)
  • April 2014 (9)
  • March 2014 (8)
  • February 2014 (7)
  • January 2014 (8)
  • December 2013 (6)
  • November 2013 (7)
  • October 2013 (13)
  • September 2013 (4)
  • August 2013 (2)

Popular Tags

#memberspotlight 2015 Compensation Survey A Day in the Life BlackRock Board of Directors Carlson School of Management CFA CFA Charter CFA Charterholder CFA Charterholders CFA Institute CFA Institute Research Challenge CFA Minnesota CFAMN CFA Program CFA Society Minnesota CFA Society MN Changing Perceptions Chartered Financial Analyst charterholders Compensation Survey Diversity ESG ethics freezing assets shout out interest rates investment management Josh Howard Joshua M. Howard Member Engagement Minnesota non-GAAP earnings North Dakota Nuveen Asset Management President's Letter SEC Society President South Dakota Susanna Gibbons University of Minnesota Volunteer Volunteering Volunteers Weekly Credit Wrap women in finance
© 2021 CFAMN Freezing Assets - Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFAMN, FreezingAssets.org or CFA Institute.
  • Home
  • Log In
  • RSS Feed