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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...
The making of an evidence-based investor
One of the biggest problems facing those of us who write about evidence-based investing is the subject matter. It’s not, let’s face it, particularly exciting. As Jason Zweig once said, “My job is to write the exact same thing between 50 and...
UK investors are embracing passive — advisers must too
The speed with which US investors have moved their money out of actively managed funds over the past two years has been so breathtaking that you could be forgiven for failing to notice the changes occurring elsewhere in the world. Granted, in...
EBI — a view from the Low Countries
If you’re disappointed with your returns from active funds in recent years, spare a thought for active investors in the Netherlands. According to the latest SPIVA scorecard, 100% of Dutch fund managers have underperformed their benchmarks over the past five years; that’s...
UK active fund managers – how good are they?
It might sometimes seem that advocates of evidence-based investing like me take delight in the deluge of data undermining the rationale for using actively managed funds. Actually I don’t. I’m not opposed to active management in principle. I would even consider using an...
The two blind spots that stop us seeing the need to invest
Think of behavioural finance and you generally think of the biases that damage investment returns — herd mentality, recency bias and overconfidence, for example. But what about the biases that stop people investing in the first place or, for those who have started...
Most advisers need a new value proposition
I remember once having a conversation with a fellow journalist about why indexing is so much less popular in the UK than it is in the US. The main reason, he said, was what he called “the lumpen mass of IFAs”, who...
