December 3, 2012

Long-Term Investing: An Optimal Strategy in Short-Term Oriented Markets

Paper Presentation IV: “Loyalty Shares: How to Reward Long Term Investors,” (Bolton & Samama, 2012)

  • Patrick Bolton, Barbara and David Zalaznick Professor of Business, Finance and Economics, Columbia Business School
  • Frédéric Samama, Head of the Steering Committee, Sovereign Wealth Fund Research Initiative (SWFRI)


  • William Bratton, Deputy Dean and Nicholas F. Gallicchio Professor of Law, University of Pennsylvania
  • Max von Bismarck, Partner and Chief Executive Officer Europe, SkyBridge Capital

Patrick Bolton and Frédéric Samama presented their paper on the issuance of a loyalty warrant as a means of incentivizing long-term investors.

Read the transcript of this event: Bolton, Samama, Bratton, von Bismarck, Loyalty Shares

Part of the Sustainable Investment research initiative.