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.
Through 2026, retail investors in semi-liquid private credit funds tested their promised liquidity — and lost. New research reveals why the quarterly gates designed to prevent panic actually create it: because meeting redemptions imposes costs on those who stay, everyone has an incentive to run first.
Robin Powell
Jul 88 min read
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