Does diversity hurt stock performance?
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72% is the number of the week! 72% is the number of white men on BlackRock's active fund portfolio management team. SEC Commissioner Hester Peirce thinks Nasdaq's new diversity rule is bad for shareholders on the back of Harvard professor Jessie Fried's paper. And maybe they're right - for the wrong reasons. A case study in diversity of the people who pick stock prices: portfolio managers at BlackRock.
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