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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...
Beware fund managers with a short term focus
The investment objectives of most investors are best served by a long-term approach; and yet the asset management industry often has a much more short-term focus. In this video, behavioural finance expert JOE WIGGINS outlines the incentive problem within the industry,...
Charles Ellis was right — market timing is a wicked idea
Market timing is one of the most seductive notions investors have to contend with. How hard can it be, we ask ourselves, to sell when the market’s high and about to fall, and buy back in just as it hits...
The lottery phenomenon in corporate debt
The most basic principle of finance is that risk and ex-ante (expected) returns should be related. However, a large body of academic research (for example, here, here, here, and here) has found that individual investors (though not institutions) have an irrational...
Active vs passive: which is better?
The “active vs. passive debate” has raged on for a long time in the field of investing. Where actively managed funds aim to outperform the market through complex strategising, passive investing is more about matching market performance through tracking a specific...
The LGPS could learn from Nevada about value for money
Britain’s Local Government Pension Scheme is one of the biggest public pension schemes in Europe, and it wastes far too much money on third-party asset managers. It’s time for a radical reform of the system, writes ROBIN POWELL, and we should...
Trying to invest like Warren Buffett? Forget it
Search “how to invest like warren buffett” in Google and 17,300,000 results come up. We’re obsessed with discovering his secret. Yet Buffett himself has consistently said that, for most people, trying to invest like Warren Buffett is a thoroughly bad idea....
