The Folly of Peer Groups
Jeff For Banks
JULY 24, 2010
'A bank CEO once told me that peer groups get you to that lazy place. He was referring to being mediocre. Yet we continue to use peer groups in banking to guide us to where we want to go. I am not against peer groups. My company uses them to determine where a company is at a point in time. But because financial information on competitors is so readily available in banking (we must report to the FDIC our quarterly results and it is available to all), we become over-reliant on them.
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