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How much passive investing is too much?
Warnings that index funds have broken the stock market all imply a threshold: a share of the market at which price discovery fails. Nobody making the argument names it. Owen Lamont, writing in the Financial Analysts Journal, argues that no such number exists short of complete passive ownership, and that what actually determines whether prices stay informative is who is left doing the trading. His case, the strongest peer-reviewed research against it, and what the performance
Robin Powell
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Stop looking for shortcuts
By ROBIN POWELL It's human nature to seek shortcuts. Throughout our evolutionary history, conserving energy when food resources were...
Robin Powell
Apr 23, 20242 min read
Why women benefit from financial advice
There are a number of factors that hold women back when trying to invest. As King's College London academic Dr. YLVA BAECKSTRÖM discusses in this video, these range from confidence issues all the way to systemic inequalities within the financial system. TRANSCRIPT Robin Powell: This might seem strange, but arguably the biggest risk that investors face is not taking enough risk. To build a sufficiently large retirement pot, you need to invest in equities. But the data show tha
Robin Powell
Apr 22, 20243 min read
The downsides of thematic funds
Thematic funds have become very popular in recent years, especially with the rise of sectors like AI, clean energy and biotechnology. ...
Robin Powell
Apr 22, 20243 min read
Don't be swayed by investment narratives
Narratives drive behaviour in all areas of life, and investing is no exception. In this video, Warwick Business School's Professor...
Robin Powell
Apr 15, 20243 min read
What does market efficiency mean?
Market efficiency is the idea that security prices, such as stocks and bonds, generally reflect all publicly available information. The...
Robin Powell
Apr 8, 20243 min read
The downside of property as an investment
There is a common misconception that one's home can serve as an effective pension fund. In this video, financial journalist NORMA COHEN...
Robin Powell
Apr 1, 20242 min read
Six lessons for investors from Daniel Kahneman
By ROBIN POWELL Daniel Kahneman, whose death was announced this week, was one of the most influential psychologists of the modern era....
Robin Powell
Mar 29, 20246 min read
Cost or performance: which is more important?
What do investors need to think about when choosing a fund to invest in? Many fund management companies advertise based on past...
Robin Powell
Mar 25, 20243 min read
Why are we so obsessed with stock prices?
Robin writes: An aspect of investing that constantly surprises me is how obsessed we all our with stock prices. We’re always hearing and...
Robin Powell
Mar 21, 20242 min read
Compound interest: what every investor needs to know
Compound interest is one of the most important things that an investor can understand. In this video, financial journalist NORMA COHEN...
Robin Powell
Mar 18, 20243 min read
Why investors need to learn from financial history
Learning from investment history is far more useful than relying on personal experience. In this short video, behavioural finance expert...
Robin Powell
Mar 18, 20244 min read
Never bet against America
I’ve lost count of the times that seasoned market commentators have cautioned against investing in US equities in recent years. Yet...
Robin Powell
Mar 13, 202413 min read
Second Lives: how a civil servant reinvented herself as an artist
Robin writes: It's time for the latest in our podcast series Second Lives, in which my co-author JONATHAN HOLLOW has been interviewing...
Robin Powell
Mar 12, 202414 min read
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...
Robin Powell
Mar 11, 20243 min read
Why US stocks still matter
US stocks dominate global equity markets, making up roughly 60% of total market capitalisation. For investors looking to build a...
Robin Powell
Mar 11, 20244 min read
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...
Robin Powell
Mar 7, 20242 min read
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...
Robin Powell
Mar 6, 20245 min read
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...
Robin Powell
Mar 4, 20243 min read
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...
Robin Powell
Mar 1, 20244 min read
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...
Robin Powell
Feb 29, 20243 min read
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