In the spring of 1972, the heads of Alcoa, General Motors, and U.S. Steel formed Business Roundtable (BR) – a not-for-profit trade organization for big business in America. For the next half century, BR advocated for lower taxes, weaker labor unions, and free-trade agreements. It opened its arms and warmly embraced economist Milton Friedman’s ethos that maximizing shareholder value was the prima facie of a capitalist democracy. Then, something funny happened on the way to the second decade of this century. BR issued a statement, signed by all the 181 CEO members, which said looking at broader stakeholder issues was actually the prudent thing to do.
Recent Insights
Bailard Appoints Dave Harrison Smith, CFA, as Chief Investment Officer
Bailard is pleased to announce that, as of today, Dave Harrison Smith, CFA, has been promoted to Chief Investment Officer. He succeeds Eric Leve, CFA, who held the role for more than a decade and will continue with the firm as a portfolio manager, fully focused on international markets.
July 1, 2025
Country Indices Flash Report – June 2025
Tariff negotiations intensified as the July 9th reciprocal tariff deadline nears, though the Trump administration signaled flexibility on the cutoff for countries negotiating in “good faith.” The U.S. and China secured a high-level framework that included a key rare earths deal and a tariff truce extension to August 11th. Meanwhile, the UK finalized a 10% tariff rate after a threatened 27.5%; talks are swiftly progressing with the EU.
June 30, 2025
Mike Faust Awarded 2025 Advisors to Watch by AdvisorHub
Michael Faust, CFA, ranked in the top five of AdvisorHub’s Advisors to Watch for the second year—recognizing his standout leadership at Bailard.
June 24, 2025
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