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Private equity returns are broken: the case of David Lloyd
Private equity returns have collapsed as the $3.2 trillion exit crisis deepens. Why David Lloyd's sale to itself reveals an industry model that's fundamentally broken.

Robin Powell
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Equity duration: why stock-picking got harder after 1945
A new study shows how equity duration reshaped markets after 1945, making stock-picking harder and strengthening the case for evidence-based investing.

Robin Powell
Sep 146 min read


Future stock market returns may be lower: here's why
Multiple lines of evidence suggest future stock market returns will fall short of historical averages. Major institutions, legendary investors, and academic research all point to the same conclusion: expect 3-6% annual returns vs historical 8-10%. High valuations, demographic headwinds, and bond competition create structural challenges. Investors need realistic planning, global diversification, and evidence-based strategies.

TEBI
Aug 147 min read


Why beating the market is just a game of chance
The investing industry gives the impression that beating the market is all about skill, but the evidence tells us it's largely a game of...

TEBI
Jun 193 min read


Why Nobel-Prize winning economists reject active investing
Eugene Fama is one of several Nobel Prize-winning economists whose research undermines the case for using actively managed funds This is...

TEBI
Jun 123 min read


Did government bonds do their job in the tariff turmoil?
A debate has raged in recent years about the wisdom or otherwise of investing in government bonds. I’ve advocated their inclusion in...

Robin Powell
Apr 84 min read


How to ride out the current market storm
President Trump's announcement on tariffs has caused a global market storm. Here are some tips on staying calm where investors panic.

Robin Powell
Apr 42 min read


Is more choice in investing a good thing?
Greater choice doesn't necessarily mean better outcomes for investors. Learn why active ETFs, private credit, and option-based ETFs may not

Robin Powell
Feb 282 min read


Stop making predictions
The investing industry loves to make bold predictions. Financial commentators often appear in the media claiming to foresee market trends...

Robin Powell
Jan 203 min read


Is the S&P 500 too concentrated?
If I had £1 for every time I read that index funds are too heavily concentrated in big US tech stocks I would be a very rich man. It is...

Robin Powell
Jan 175 min read


Six changes to financial markets that transformed investing
The financial markets have changed beyond all recognition since the late 1960s and early 1970s. But many investment strategies haven't.

Robin Powell
Jan 26 min read
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