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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...
Attention advisers — Investing The Evidence is going global
I had an email the other day from a financial adviser in North America. He wanted to congratulate me on our video documentary Investing: The Evidence. The film, described by Vanguard chairman Bill McNabb as “the best 45 on the subject of investing...
Passive investing is improving governance and profitability
As an advocate of passive investing, I’ve become a little cynical about all the scare stories surrounding index funds in recent years. We’ve heard, for instance, that they hinder efficient capital allocation and have a detrimental impact on price discovery. Critics have...
This is how desperate active managers have become
I’ve heard all sorts of suggestions for improving the performance of active fund managers, but here’s the strangest yet: give them a new pair of running shoes. If you think I’m joking, I’m not. Executives at Allianz Global Investors, the asset management branch...
Shhh! Don’t mention the funds that flopped
When I get frustrated, as I often do, at the fund industry constantly touting the “benefits” of active funds in the media, I have to remind myself that there are people who’ve been quietly presenting the evidence that they extract value for consumers...
Europe’s low cost investing revolution is gathering momentum
We’ve all heard about the huge growth in popularity of low-cost investing in the United States. But how is the passive investing revolution progressing in Europe? That’s one of the questions I put to Adam Laird, Head of ETF Strategy at Lyxor...
Pascal’s Triangle: order out of chaos
“Essentially, all models are wrong,” the famous statistician George EP Box once said, “but some are useful.” A good example is the Galton Board, designed by the Victorian genius Sir Francis Galton in the 1870s to illustrate the concept of the normal distribution....
