What is a “prudent man” to do? by Harold AGJ Davis in Winnipeg, January 19, 2018
The Prudent Man Rule has defined fiduciary responsibility in the United States since 1830, but it could it overwhelmed by commercial considerations in 2018. Wikipedia provides a quick summary of the rule as directing trustees “to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested.”