Featured post
Introducing our new portfolio review service for professionals
The vast majority of pensions funds, charities, endowments and other institutional portfolios have underperformed the market for decades. The way to stop the rot is to have an independent portfolio review, reduce fees and complexity, and increase diversification. From today, that’s precisely what TEBI is offering. As anyone who’s read The...
The problem with SJP
A letter landed on my doormat the other day from St James’s Place Wealth Management. “At a time of great global and political uncertainty,” the letter began, “bought (sic) about by Brexit and Trump, where do you go to find the best...
Denial is the worst way to handle an existential crisis
Warren Buffett’s business partner Charlie Munger made an extraordinary observation the other day… and hardly anyone batted an eyelid. Munger, still razor-sharp at 95, was addressing the annual meeting of the Daily Journal Corporation in Los Angeles on the subject of active...
Beware new era thinking
I must admit, I’m not too keen on the idea of being transported to work in one myself, but apparently driverless cars are the future. Hundreds of millions of pounds, for example, have already been invested in trying to make my own...
Changing investing for the better, one adviser at a time
I don’t remember 6th March 2015 with any fondness. I gave a presentation at an adviser conference in Birmingham and it went down like a lead balloon. I was talking mainly about How to Win the Loser’s Game, the documentary I’d just...
How and why do IPO stocks behave differently?
Before I properly understood how investing works, I used to buy individual stocks. Like most investors, I was particularly attracted to initial public offerings, not least because those were the stocks that tended to receive the most media attention. Almost invariably with...
Even Keynes couldn’t time the market
Financial academics have consistently shown that beating the stock market is very hard to do and that very few investment professionals manage to achieve it, on a cost- and risk-adjusted basis, over the long term. But what if academics themselves turned their...
