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How a Toronto fund manager became an indexing advocate

It’s always struck me that some of the most articulate proponents of evidence-based investing have worked, often for many years, at the sharp end of active fund management. Stephanie Griffiths is no exception. Like me, Stephanie was a journalist, but she moved into asset management more than 20 years ago. She ran a small-cap...

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My personal debt of gratitude to Jack Bogle

  So we’ve lost a legend. I’ve seen so many wonderful tributes* to Jack Bogle over the last few hours that there’s nothing I feel I can add about the man that hasn’t already been said. I had the privilege of meeting him twice....

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The surprisingly strong case for selling stocks at random

  Imagine two fund managers, Manager A and Manager B. Manager A tells you he’s going to pick stocks he expects to outperform the market in the future, and sell stocks he expects to underperform. Manager B has the same approach as Manager...

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Charley Ellis, the man who unmasked the loser’s game

Thanks to everyone for the positive feedback on the first in our #InvestingSuperheroes video series, featuring Jack Bogle. Now for the second video, which acknowledges the huge contribution that Charley Ellis has made to the investing industry. Charley was the man who famously...

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Passive funds consistently outperform active net of costs — ESMA

Investment costs costs represent “a significant drain on fund performance”, which impacts retail investors “to a much higher extent” than their institutional counterparts. That’s one of the key findings of a new report from ESMA, the European Securities and Markets Authority. In its...

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Do fund lists help investors?

Feedback from TEBI readers is telling us that you want to see more video content, and your wish is our command. We’ve had an excellent response to our new video series #InvestingSuperheroes, and here’s another new series to get your teeth into. It’s...

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Don’t allow volatility to affect your focus

  As much as I try to encourage investors not to be unnerved by it, I realise that stock market volatility can be very hard to ignore. Global markets have been on a rollercoaster ride for the last few weeks, and it’s only...

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