I think Pierre’s goalpost moving is stupid and I don’t agree with him but he’s saying that it be converted to cash and then reinvested so that Carney doesn’t know what’s in it.
Handing your existing assets to a trust, you don’t generally expect them to randomize your entire portfolio, so of course it’ll be similar to what you put in at the time you get it back
Nobody else has ever been expected to do this and it’s a bullshit bad faith argument, but that’s his reasoning
And why would the chosen investment strategy be any different from what he already had…? Like, whoever he chooses to manage the trust is going to be aligned with whatever Carney’s preferred investment strategy is… and if that hasn’t changed, the portfolio is going to look quite similar. Adding an extra step where you cash out and buy back similar assets… it’s silly.
I think Pierre’s goalpost moving is stupid and I don’t agree with him but he’s saying that it be converted to cash and then reinvested so that Carney doesn’t know what’s in it.
Handing your existing assets to a trust, you don’t generally expect them to randomize your entire portfolio, so of course it’ll be similar to what you put in at the time you get it back
Nobody else has ever been expected to do this and it’s a bullshit bad faith argument, but that’s his reasoning
And why would the chosen investment strategy be any different from what he already had…? Like, whoever he chooses to manage the trust is going to be aligned with whatever Carney’s preferred investment strategy is… and if that hasn’t changed, the portfolio is going to look quite similar. Adding an extra step where you cash out and buy back similar assets… it’s silly.