Asset managers are meant to be good at judging the balance between risk and reward. It’s what they are paid to do. Yet when it comes to their use of corporate jets, some of the world’s top companies seem clueless. It makes you wonder whether they might be just as dumb when it comes to managing their clients’ money.

Since the financial crisis, all companies with retail customers have been under increasing pressure over executive pay and perks. Governments have been saddled with huge debts and middle-income living standards have stagnated. Yet the pay of top executives has continued to soar, along with the value of their share options. Populist critics say this is just not fair. And they are right.