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S&P 500 concentration risk is at historic highs. If you own a global tracker, your portfolio may be far less diversified than you think. Here's what you can do about it.

"Buy the dip" sounds like smart investing — wait for prices to fall, then pounce. But 60 years of evidence reveals the strategy underperforms passive investing more than 60% of the time. Here's why waiting for the perfect moment costs more than it saves.

Is private equity worth it? New research shows PE's 3.8% annual edge over public markets is far smaller than the industry claims, has been shrinking since 2006, and partly disappears once you adjust for leverage, size, and sector exposure. With all-in fees reaching 6% per year, retail investors should ask why the velvet rope is coming down just as institutional outperformance has faded. The answer: the industry needs your money.

With the Magnificent Seven dominating the S&P 500, concentration risk is at historic highs. Here's why portfolio diversification remains your best defence.

Active fund managers claim they earn their fees when markets fall. New Morningstar research spanning 26 years tests this claim. The findings: active funds in downturns do outperform more often, but markets rise 80% of the time, swamping any advantage. When COVID and 2022 stress-tested the theory, most active managers failed to protect investors. The promised shelter turns out to be little more than a coin flip.

Terry Smith's Fundsmith beat the market for a decade, then trailed four straight years. £3.31bn fled in 2024. Most investors lost money vs a tracker. Why? Timing. They bought high after stellar returns, sold low during underperformance. Jack Bogle's iron law: money arrives after gains, leaves during losses. Even star managers can't beat that.