...discretion, and intelligence manage 'See, eg. Pitzer v. Security Nafl Bank. 155 Cal. App. 3d 779 (1984). their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested."18...

...College v. Amory, 26 Mass. 446 (1830). 318 Harvard College v. Amory, 26 Mass. 446. 461 (1830):"[A]11 that can be required of a trustee to invest, is, that...speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety on the capital to be invested."...

...the concept of a 'prudent man', whose actions with regard to investing for others was defined as '... how men of prudence, discretion and intelligence manage...speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested.'...

...Judicial Court of Massachusetts in Harvard College v. Amory (1830) held that a trustee is required only to "observe how men of prudence, discretion and intelligence manage their own affairs." The core definition of fiduciary duty identifies an obligation to invest in the 'best interest' of...

...concerning investments. The old rule — known as the "prudent man" rule — required that "a trustee . . . conduct himself faithfully and exercise a sound discretion....speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested."57...