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.
Terry Smith's Fundsmith Equity fund has underperformed for four years, losing billions in outflows. But is this evidence of declining skill or simply bad luck? Academic research reveals it takes 36-800 years of data to statistically prove a fund manager has genuine talent rather than benefiting from chance. Smith's 14-year track record, despite early success, is statistically meaningless. His recent struggles with NVIDIA, Apple and Novo Nordisk may look like stock-picking err
TEBI
Jul 87 min read
SUBSCRIBE
Simply provide your email address to receive our regular update.
