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Davis on Corporate Backlash Concerns

Selected and Clipper fund manager Christopher Davis on the issues surrounding salary caps and the role of funds in policing corporate governance.

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Dan Culloton: Do you see a difference in regulatory risk in the domestic financial holdings you have and the foreign financial holdings you have, such as Julius Baer?

Christopher Davis: Yeah. There is an enormous danger when you get into the world of - particularly investment banking versus commercial banking - that handicapping or restricting one set of competitors in a way that you don't restrict the entire field of competitors disadvantages those companies. So imagine in sports if one set of teams that had been terribly managed and had had terrible...

Dan Culloton has a position in the following securities mentioned above: SLADX, CFIMX. Find out about Morningstar’s editorial policies.