Asset manager GMO underperforms the market for a stock market bubble of 1996-2000 because of the emphasis on the absolute risk. After suffering a major seizure client performance shines again when the bubble collapses. Did they win the battle but lose the war? This case is a quantitative investment process developed by the asset management model and philosophy and firm. Now that performance recovered, partners think, why so much business was lost. If they harden further bids to retain more business, or fiduciary duty to the client necessarily entails the risk that some customers will go away? "Hide
by Andre F. Perold, Joshua Musher Source: Harvard Business School 31 pages. Publication Date: January 4, 2002. Prod. #: 202049-PDF-ENG
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