Like a big-budget sports team on a free-agent acquisition binge, the car industry has been rapidly acquiring new players. If we focus on mass shootings as a means of understanding how to reduce the number of people killed by guns in this country, we’re likely to implement laws that don’t do what we want them to do — and miss opportunities to make changes that really work. Mr. Sabia’s path to the top of Canada’s second-largest pension fund is as unorthodox as some of his investment moves. R&D benefitting both automotive assemblers and parts manufacturers is well supported here.
I just finished covering the International Pension Conference of Montreal and PSP’s fiscal 2017 results where I noted that PSP’s CEO André Bourbonnais is concerned about investor complacency and rightfully warned institutional investors are underestimating valuation and regulatory risks of infrastructure, mistakenly looking at these investments as a substitute for bonds.…