Nobody can establish who first used the phrase 'evidence-based investing', and no regulator defines it. Robin Powell, who was given the name by Larry Swedroe in 2015 and is sometimes wrongly credited with coining it, sets out what it actually means: four tests of what counts as evidence, borrowed from a medical parallel that hit the same crisis twelve years ago. Including where he goes further than a global tracker, and why he holds that position less firmly than he used to.
Before the UK’s latest Budget, families were told capital gains tax would soar and pension tax-free cash would be cut. None of it happened. For one family modelled by Y TREE, selling early to beat a feared tax rise would have cost up to £138,000 over ten years, more than twice what the Budget itself costs them. Sometimes the best thing to do with a portfolio is keep your hands off it.
Robin Powell
5h3 min read
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