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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...
Woodford is bowing to the inevitable on research fees
Neil Woodford can afford the smartest spin doctors, and it shows. Hardly a day goes by without a Woodford story (almost invariably positive) in the media. The latest success for his PR machine came this weekend, with the announcement that the Woodford Equity...
Active investors talk each other into losing money — study
It’s a question I’ve spent the last few years trying to answer. Why, in the face of overwhelming evidence that they would be better off with a low-cost, passively managed, buy-and-hold portfolio, do the majority of investors choose to invest actively?
Investors should be looking for quality stocks, right?
“It’s far better to buy a wonderful company at a fair price,” Warren Buffett once said, “than a fair company at a wonderful price.”
Cap weighting is not the one true way
Apologies to those fellow evidence-based investors who consider this heretical, but I’ve never considered market-cap weighting the best way to build an index.
Why should fund managers earn more than accountants?
Chances are that most people reading this haven’t even heard of Richard Woolnough. But over the past two years he’s earned more than £32 million. No, he’s not a Premier League footballer, nor a Hollywood star. What does he do? He manages other...
#SFTW: Something for the Easter weekend
SOMETHING FOR THE WEEKEND Blogging is hard. Why do it? One of my fellow bloggers I most admire is Barry Ritholtz. When I visited Barry at his New York office a few months ago, I was astonished to hear him say that...
