You might not expect the sentence "There is a saying when you're in the woods: 'You don't have to outrun the bear; you just have to outrun one of your fellow campers,'" to be the first words out of the chair of the SEC at a public speech.
But after thanking someone for an introduction and then providing that the views were his and not that of his agency or other commissioners or staff, it is how Gary Gensler opened a talk at the Investment Company Institute on May 25.
It was a metaphor, as the topic of the speech was not safer camping in crowds. Instead, it centered on the potential for risk from investment funds, "particularly in times of stress."
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