4 ms·
Yep- don't hate the player, hate the game. I'm legally obligated to do so in some cases. That's what fiduciary means.
by Tagore 10y ago
Yep- don't hate the player, hate the game. I'm legally obligated to do so in some cases. That's what fiduciary means.
- tutufan 10y agoYou keep using that word. I do not think it means what you think it means.
- Tagore 10y agoExcept that is what it means. The term is used mainly in certain contexts these days, so you might have gotten the impression that it only applies in those contexts, but 'fiduciary' has a broader meaning. To quote from Wiki (I know): "[t]he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty" and I'd argue that taking on capital imposes just such an obligation, such that trying to hire the people most likely to maximize your investors return is indeed a fiduciary duty, one that implies other duties.
- elbigbad 10y agoNo it's not. A fiduciary duty is not the same as a legal duty. Though they can overlap.
- Tagore 10y agoSee above.