Grameen to the Rescue

Sometimes Nobel prizes go to their heads.

Take Linus Pauling. The man was one of the greatest scientists the world has ever known and won the Nobel Prize in Chemistry in 1954 for discovering the structure of protein molecules. Eight years later he won the Peace Prize for his advocacy on behalf of nuclear disarmament. He capped this distinguished career with … Vitamin C? Against all expectations, he is often remembered for promoting that daily mega-doses can cure head colds, the flu, cancer, and all sorts of other ailments.

Other Nobel laureates have done similarly foolish things. Lately Muhammad Yunus, a pioneer in the microlending movement, hasn’t been content to stick to his proven credit formula: extend small loans to female entrepreneurs and tie them together via small accountability groups. He now wants to speak out on political and public finance issues in his native Bangladesh.

Well, that’s a crowded trade. The world is full of financiers who get involved in politics. And the politics of a developing country can be rough. The current Prime Minister of Bangladesh is a democratically elected woman who worked her way up through the political process of a Parliamentary government in a Muslim nation. She’s tough.

So Yunus shouldn’t be surprised if the elbows get a little sharp. Because a Peace prize doesn’t win elections. And being smart doesn’t always make you wise.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2014-09-11T13:55:44+00:00 March 29th, 2011|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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