EBI Tweets

May, 2018

Thursday 31st - 16:48

Just like the mortgage Rating Agencies c. 2008-09, Morningstar downgrades Woodford's equity fund AFTER the event... https://goo.gl/D3cEVH

Thursday 31st - 11:52

If the Euro breaks up, who REALLY loses? Looks like Germany to me... https://goo.gl/nM13Hz

Wednesday 30th - 16:48

The top ten list of most popular Hedge Fund holdings shows what you get from them for your investment fees- nowt. https://goo.gl/Y665w2

Wednesday 30th - 13:51

Does this remind anyone of the South Sea Bubble? https://goo.gl/PFhA1t https://goo.gl/yX6eDj

Wednesday 30th - 11:52

Are Bond investors missing a trick re asset volatility? Default risk is key to the analysis of risk and return. https://goo.gl/P2Z2a7

Tuesday 29th - 16:48

West Midlands pension fund has agreed to divest from a Cluster munitions firm in South Korea-what ELSE do they own? https://goo.gl/dgfsgh

Tuesday 29th - 13:51

The big get bigger- the top ten asset management firms now ALL have $1 TRILLION AUM... https://goo.gl/gYoaJU

Tuesday 29th - 11:52

As the crisis in Italy deepens, (with Spain close behind), Draghi better get back to work, (buying more bonds). https://goo.gl/n8vyef

Monday 28th - 13:51

Ministers seek permission to use £400m fund anonymously donated and frozen since 1928 https://goo.gl/PFfiqN

Monday 28th - 11:52

Sunday 27th - 12:51

Is the Trump administration losing the China trade war? https://goo.gl/1Zhuz1

Sunday 27th - 10:57

Saturday 26th - 12:51

Bankers May Have Moved $13 Billion Through Baltic Laundromat https://goo.gl/TLbwtz

Saturday 26th - 10:57

Friday 25th - 13:51

Surging numbers of Chinese people going abroad should be welcomed; even if China’s foreign policy is worrisome https://goo.gl/B1rNtE

Friday 25th - 11:52

Trump Threatens Allies With New Tariffs, Sowing Global Confusion https://goo.gl/ayrqr8

Thursday 24th - 13:51

Barclays and Standard Chartered, just a fairytale? Investors Pour Cold Water on Potential StanChart Deal https://goo.gl/7R2oAM

Thursday 24th - 11:52

"Eat what you kill", Gelband finalises largest hedge fund launch ever at more than $8bn https://goo.gl/Vhx7zM

Wednesday 23rd - 13:51

Pain over rising dollar belies real challenge for emerging markets https://goo.gl/89oNko

Wednesday 23rd - 11:52

Myron Scholes on Inflation; it could be Oil, China or something we haven't considered. It's definitely one of those https://goo.gl/Vq9K2T

Tuesday 22nd - 13:51

US University fund bought into offshore funds and then lobbied for secrecy over their fees- something to hide? https://goo.gl/1ZDS9r

Tuesday 22nd - 11:52

The "value added" of Wall Street predictions- if they are free they are (almost) worth what you've paid for them... https://goo.gl/3X3mFX

Monday 21st - 16:48

Monday 21st - 13:51

"Crowded trades", in this case Low Vol and High Yield are failing, because they have run out of NEW buyers... https://goo.gl/Pynec6

Monday 21st - 11:52

This week's Blog looks at how the world is reacting to pension fund deficits-(spoiler alert: not at all!). https://goo.gl/5t62Qb

Sunday 20th - 12:51

Don't just look at the headline fees- operating expenses(which still cost the investor) are pivotal in performance, https://goo.gl/FPyVZ8

Sunday 20th - 10:57

Despite all the worries over China, the USD and bond yields, the US equity market has held up- is this why? https://goo.gl/qFWkzy

Saturday 19th - 12:51

According to this study, diversification helps portfolio liquidity as well as reducing price risk... https://goo.gl/ymFyWg

Saturday 19th - 10:57

Confirmation that US firms are spending the Trump tax cuts on Dividends and Buybacks, not Investment in the business https://goo.gl/pJVHD7

Friday 18th - 16:48

EU Regulators now wading into the fees/charges debate- the FCA's efforts do not inspire confidence in the outcome. https://goo.gl/rmAso6

Friday 18th - 13:51

"Star" manager would prefer to underperform than buy oil shares; shades of Woodford here- he may get his wish... https://goo.gl/URi1L6

Friday 18th - 11:52

Kent Council has some thinking to do vis-a-vis their investments with Neil Woodford; they have kicked the can again. https://goo.gl/KJ5yLr

Thursday 17th - 16:48

Private equity groups are looking at buying into Wealth management firms- will short-term profits take precedence?https://goo.gl/fj7exo

Thursday 17th - 13:51

To promote market-timing, concentrate on the pitfalls of Buy and Hold, NOT on the impossibility of the former... https://goo.gl/P9jDFA

Thursday 17th - 11:52

"Confusing" performance fee models are DESIGNED that way-so investors cant easily see they are still being fleeced. https://goo.gl/RAHBNo

Wednesday 16th - 16:48

One of the problems with buying into the MSCI China boom is avoiding being labeled "a manipulator" by authorities. https://goo.gl/hjj5gJ

Wednesday 16th - 13:51

The "Passive bid" is back again as ETF inflows soar... https://goo.gl/daWGnK

Wednesday 16th - 11:52

The rise of Indexing has been good for investing consumers but vested interests continue to peddle the opposite view https://goo.gl/6occ3w

Tuesday 15th - 16:48

Ironic "protest" march as bankers are threatened with extinction by Bitcoin. Can't see too many tears being shed... https://goo.gl/d8aTqE

Tuesday 15th - 13:51

If this company's AGM goes WITHOUT a shareholder "rebellion", then shareholder oversight is dead... https://goo.gl/DcBdTF

Tuesday 15th - 11:52

Australian active managers "out-performed" the Index over the long term according to Mercer but BEFORE fees. Hmmm https://goo.gl/utau5Y

Monday 14th - 16:48

Thinking of "Sell in May and go away"? Seasonal patterns don't repeat, 'cos markets don't know what month it is! https://goo.gl/cNsJaX

Monday 14th - 13:51

Hedge funds charge huge fees, and levy them more frequently, benefitting from compounding effects too. https://goo.gl/KdjTh5

Monday 14th - 11:52

Details of Corporate director buys/sells are easily available, but not for Fund Managers in their own funds. Why? https://goo.gl/MXw8Vq

Sunday 13th - 12:51

Don't look for the latest "big thing", concentrate on yourself- your psychology, not markets will determine success. https://goo.gl/NA93br

Sunday 13th - 10:57

What the "return gap" (returns experienced versus what a buy and hold investor received) looks like. https://goo.gl/4rJn1t

Saturday 12th - 12:51

Shiller's 1996 forecast of 10-year zero equity returns proved disastrously wrong; maybe CAPE doesn't work either. https://goo.gl/LeQV4J

Saturday 12th - 10:57

Evidence suggests analysts DO have skill, but they don't have costs to cover or to deploy capital. Fund managers do. https://goo.gl/vydpt9

Friday 11th - 16:48

Another example of the revolving door between the Regulator and the Finance industry. Does this inspire confidence? https://goo.gl/4VVqvr

Friday 11th - 13:51

The number of equity funds is now almost the same as the number of equities to invest in! Some mistake surely? https://goo.gl/cLdaCz

Friday 11th - 11:52

According to the loser of the "Buffett bet", Hedge funds don't try to beat the market- so far, it's worked a treat. https://goo.gl/hkyNHy

Thursday 10th - 16:48

After 10 years of lagging behind, Hedge funds are beating the market- over 4 months. Whoppee! https://goo.gl/RV1L3s

Thursday 10th - 13:51

Facts versus beliefs and why what we're told ain't necessarily so in the investment world... https://goo.gl/wtm1cT

Thursday 10th - 11:52

After a poor start to 2018, the Momentum factor appears to be getting back on track... https://goo.gl/B55Tjw

Wednesday 9th - 16:48

Munger and Buffett are NOT fans of Bitcoin (or bonds). But he can cope with a 50%+ equity fall (unlike most of us). https://goo.gl/r6a2fS

Wednesday 9th - 13:51

"Style" investing works well in Fixed Income too- usual caveats (diversification etc.) apply... https://goo.gl/HpDoke

Wednesday 9th - 11:52

The very biggest (and the niche players) are benefitting from asset management trends- everyone else struggling... https://goo.gl/1n3jsd

Tuesday 8th - 16:48

The cheat-sheet to successful investing... https://goo.gl/dFs8Ew

Tuesday 8th - 13:51

How the share of the UK of world equities has fallen and why global portfolios make more sense. https://goo.gl/Y74aSt

Tuesday 8th - 11:52

This week's blog looks at the retail sector in the UK and the US. Will it survive? https://goo.gl/LusMTz

Monday 7th - 16:48

Monday 7th - 13:51

Shades of 1980, when economists covered themselves (and their "profession") with glory... https://goo.gl/f4oKaV, https://goo.gl/vswXbW

Monday 7th - 11:52

As the bull market grinds on, there is no incentive for asset managers to act on fees etc. Wait for the bear market! https://goo.gl/ubx4qn

Sunday 6th - 12:51

Pensions MUST make a return. All the activism etc. is mere virtue signaling absent this reality... https://goo.gl/2SqQGC

Sunday 6th - 10:57

Active managers (grudgingly) admit underperformance ex-post, but the out-performance is always ex-ante... https://goo.gl/QmTFpZ

Saturday 5th - 12:51

Goldman Sachs sees MiFID leading to fund management industry consolidation. And the industry seems to agree... https://goo.gl/nRo635

Saturday 5th - 10:57

Have Emerging Markets Active managers actually beaten their chosen Index-or have they just owned Small/Value shares? https://goo.gl/aNxrZ6

Friday 4th - 16:48

A taste of things to come? Tesla's Musk blames short-sellers for the conference call debacle this week... https://goo.gl/2q8vpD

Friday 4th - 13:51

The debate on "value" investing is leading to a re-evaluation of what it is, as Growth continues to win. https://goo.gl/23tk5W

Friday 4th - 11:52

Here's why Active shouldn't be welcoming a bear market- they will lose big (in several ways)... https://goo.gl/nzfq7e

Thursday 3rd - 16:48

Hedge funds predict their own revival, though they didn't see their own decline previously...self-serving optimism? https://goo.gl/pYypEK

Thursday 3rd - 13:51

Disclosure of "Active Share" is great, but it only tells us that the range of returns will be wider. No panacea. https://goo.gl/JW8o3c

Thursday 3rd - 11:52

One consultancy firm is suggesting Fund Managers PAY to run money. "Heresy" is only possible in a genuine crisis. https://goo.gl/Adtkwt

Wednesday 2nd - 16:48

Chinese A shares are joining the MSCI EM Index; investors are piling in ahead of the Passive fund flows... https://goo.gl/ELZ8yv

Wednesday 2nd - 13:51

57% of UK equity funds in existence in 2008 have now closed; which makes the survivors look better-survivor bias https://goo.gl/1ygggr

Wednesday 2nd - 11:52

To cut costs, Alliance Bernstein is moving their HQ to Nashville; could we see similar moves in the UK? https://goo.gl/Zr7EYU

Tuesday 1st - 16:48

IN the US, regulators are now looking at preventing "political" investment strategies, as the NY Pension fund lags.. https://goo.gl/ch7NDJ

Tuesday 1st - 13:51

MorningStar announces (again) plans to launch Mutual Funds (at 0.5%-1.2% p.a.) Will THEY be rating them? https://goo.gl/6YWzN9

Tuesday 1st - 11:52

Physician heal thyself: Jupiter fund manager criticises Advisors fees. (Merlin Income OCF 2.2% p.a.).... https://goo.gl/KNtgnG

April, 2018

Monday 30th - 16:48

An analysis of market predictions confirms what we already knew- most analysts don't have a clue what they are doing https://goo.gl/RFtMYm

Monday 30th - 13:51

Active mangers under perform in South Africa too- presumably because it is a Developed, efficient market..(sarc) https://goo.gl/vM5StA

Monday 30th - 11:52

This week's blog looks at the battle for investors cash between equities and bonds. https://goo.gl/TN1XC5

Sunday 29th - 12:51

Investment Trusts now have to show gearing costs; this makes them more costly. Cue outrage..https://goo.gl/MrzZQj

Sunday 29th - 10:57

This is why investor returns are so poor-42% of survey respondents changed their market outlook AFTER Feb's decline https://goo.gl/fdYxBQ

Saturday 28th - 12:51

Any chance of finding someone who thinks Active Managers will do well this year that ISN'T an Active manager? https://goo.gl/VxU1SM

Saturday 28th - 10:57

A big gainer from the flattening US yield curve? Why, Wall Street (again), as retail buyers get sold another pup... https://goo.gl/XubqU5

Friday 27th - 16:48

Vanguard is taking its investment model to China; will the result be any different from what happened in the West? https://goo.gl/ahu3d7

Friday 27th - 13:51

Bloomberg tolls the bell for Active funds- but the solution (concentrated portfolios) is what has caused the problem https://goo.gl/St8rgJ

Friday 27th - 11:52

Irony-Yahoo article on how to overcome the fear of the stock market; by one of those directly responsible for it. https://goo.gl/uBTgLu

Thursday 26th - 16:48

Long Duration has served investors well in recent years. But it DOES work both ways... https://goo.gl/UEFyME

Thursday 26th - 13:51

The pros and cons of #DollarCostAveraging. https://goo.gl/k7AFsi

Thursday 26th - 11:52

If pay-for-alpha becomes the industry norm, some active managers could see more than half of their profits disappear https://goo.gl/Suy9uh

Wednesday 25th - 16:48

There is a flip-side to low-interest rates, something that Investors (and markets) seem to be forgetting... https://goo.gl/6nVcE8

Wednesday 25th - 13:51

IF #volatility returns to markets, Active funds have the opportunity to prosper- but do they have the ability? No... https://goo.gl/BaMvWd

Wednesday 25th - 11:52

Contrarian alert- as surveyed UK equity allocations hit historical lows, is it time to go in? https://goo.gl/to8c95

Tuesday 24th - 16:48

Charging for services never received and lying to the Regulator leads to the resignation of a Oz CEO, (but no JAIL). https://goo.gl/2UuwKN

Tuesday 24th - 13:51

In theory, all this #volatility of late should have been a boon for traders; until you see this chart... https://goo.gl/zbhmAq

Tuesday 24th - 11:52

Competition between #FundManagers has not delivered lower prices for investors because there is no REAL competition. https://goo.gl/aFjPJT

Monday 23rd - 16:48

All-time high for #hedgefund assets, as Investors seek safety from market volatility. Is this the right place to go? https://goo.gl/BuE1cm

Monday 23rd - 13:51

At last, something goes right for Neil Woodford as AA and Capita rise. Has the tide turned? https://goo.gl/a1N4WZ

Monday 23rd - 11:52

This week's blog looks at Diversification; why we do it and how it works. https://goo.gl/JSgbdj

Sunday 22nd - 12:51

If you want to get ahead as a fund manager, get some more estrogen according to this study... https://goo.gl/b3Py2j

Sunday 22nd - 10:57

Are the big funds' focus on corporate governance, merely "virtue signaling" (with other people's money)? https://goo.gl/DMJy3C

Saturday 21st - 12:51

A good summary of all the (poor) criticisms of Index Investing.... https://goo.gl/QrwzwA

Saturday 21st - 10:57

"Crowded" trades are apt to go wrong; because if everyone's already bought, who is there left to push it higher? https://goo.gl/e3R8ka

Friday 20th - 16:48

No escape, even in death. Oz bank charges fees to clients that had died! "Possible warning to the advisor" suggested https://goo.gl/mhEXKd

Friday 20th - 13:51

"Convex" and "Concave" investment behavior and the differing results of both. https://goo.gl/TvTQWA

Friday 20th - 11:52

US Stock valuations are either very expensive.....or quite cheap, depending on how you measure them... Useful? https://goo.gl/g6W6VZ

Thursday 19th - 16:48

In a startling move, the Board of Schroders UK Growth fund have sacked Schroders as their fund manager... https://goo.gl/8sxWWv

Thursday 19th - 13:51

Focussed (a.k.a concentrated ) funds don't seem to do better than diversified funds- but you get a MUCH wilder ride. https://goo.gl/s7pi29

Thursday 19th - 11:52

After criticising Passive for years, the Active industry is now looking for a rapprochement. A sign of weakness? https://goo.gl/TU98Be

Wednesday 18th - 16:48

Is the power of Share buy-backs unappreciated? The issue is muddied when they are debt-funded... https://goo.gl/HL8fNE

Wednesday 18th - 13:51

Why #Rebalancing works; buying low and selling high makes it an easier portfolio to stick with in harder times. https://goo.gl/G1yCGn

Wednesday 18th - 11:52

Avoiding Active fund managers with less than 3 years track record is fine; to show skill, one needs 10 years of data https://goo.gl/8EZowx

Tuesday 17th - 16:48

Warren Buffett isn't a big fan of bonds, but if we ALL had his options and skills neither would we be. But we don't. https://goo.gl/kWms9A

Tuesday 17th - 13:51

More than half the Mutual Fund inflows in Q1 2018 went to Vanguard; so the exodus from Active is on-going... https://goo.gl/pAQNgi

Tuesday 17th - 11:52

Another example of the fall from grace of a previous "star" fund manager. Skill is cyclical too... https://goo.gl/aUeeTd

Monday 16th - 16:48

Is holding cash riskless? In many ways, it is riskier than owning equities and bonds... https://goo.gl/Xoc74w

Monday 16th - 13:51

In a low-interest rate world, bond managers are using complexity to try to improve returns- it's not helping.. https://goo.gl/cz3Xdq

Monday 16th - 11:52

As if things could not get much worse, Moodys sees the FCA's new rules as credit negative for Active Managers.. https://goo.gl/wRLQWd

Sunday 15th - 12:51

On second thoughts, no need; has he just been "Woodfordded" ?https://goo.gl/U6u2Fb

Sunday 15th - 10:57

Morningstar asks if the stellar Fundsmith performance can continue. We shall ask Neil Woodford what he thinks... https://goo.gl/7aEKSK

Saturday 14th - 12:51

FX Hedge funds bemoaned the lack of Volatility in 2016/7; now they're getting it and guess what? It's not helping... https://goo.gl/r96S6t

Saturday 14th - 10:57

Frying pans and fires... managers getting out of Property ( on liquidity concerns) and buying Absolute Return funds? https://goo.gl/T6A4J7

Friday 13th - 16:48

Fidelity launches a new range of low-cost Index funds; we are watching these closely. We might be able to use them. https://goo.gl/HymJpT

Friday 13th - 13:51

For Hedge funds, it is the moment of truth- unless they can find yet another excuse for pathetic returns of course. https://goo.gl/btJ55r

Friday 13th - 11:52

Will the 1% p.a. Virgin Tracker's charges finally come down? The way appears to be being paved... https://goo.gl/Cw9aHR

Thursday 12th - 16:48

Harvard University's top managers earned $58 MILLION in 2015, whilst underperforming their peers. Isn't THAT smart? https://goo.gl/tG8Tid

Thursday 12th - 13:51

In a game of small margins, profits from stock lending can often make the difference between success and failure... https://goo.gl/jhNpy7

Thursday 12th - 11:52

Closing " too complex" funds sounds like managers are doing right by their clients- too often its self-interest... https://goo.gl/2NY1yn

Wednesday 11th - 16:48

US Regulator pushes managers to publish details of their "Active Share", seemingly despite the metric's uselessness. https://goo.gl/DGtzjW

Wednesday 11th - 13:51

Only 62% of US equity fund managers have been in situ for 5 years or more, so how can you tell if they are any good? https://goo.gl/dteVhw

Tuesday 10th - 16:48

As Bogle says, ETFs won't cause the next crash; it will be active managers (who own the same things as do ETF funds) https://goo.gl/PUa3of

Tuesday 10th - 13:51

According to a survey, only 1/3 of Hedge Funds intend to cut fees to attract investors. Still plenty of suckers.. https://goo.gl/WMXzV5

Tuesday 10th - 11:52

Active wins in volatile markets (allegedly). All you have to do now is correctly predict when they will happen... https://goo.gl/Jazqqk

Monday 9th - 16:48

Not everyone's happy about the torrent of new FCA rules, however- mainly because they don't go far enough… https://goo.gl/YQLT93

Monday 9th - 13:51

The #FCA has told fund managers to "assess" their value to investors every year. That should insightful...https://goo.gl/vy5Xzv

Monday 9th - 11:52

This week's Blog looks at investor activity from a Behavioural Finance perspective. https://goo.gl/5WGtvn

Sunday 8th - 12:51

This Bloomberg article appears to be suggesting that buying tops is OK! This is WAY beyond "Buy the Dip"... https://goo.gl/PhuKjb

Sunday 8th - 10:57

Longfin SNAFU is a "warning" to Indexers. Is it? Or is it a warning about Index providers...? https://goo.gl/Lu7yHk

Saturday 7th - 12:51

The #FCA is not asleep over fund manager practices- it knows whats going on, but WON'T intervene (unless prodded)... https://goo.gl/gSEpN1

Saturday 7th - 10:57

Virgin Money to "transform" (AKA kill) its 1% pa. Tracker fund- and hope people soon forget it was theirs... https://goo.gl/fxm7UX

Friday 6th - 16:48

Mercers has suggested that underperforming fund managers PAY clients if they miss targets. Cant see this taking off https://goo.gl/LJ8XPL

Friday 6th - 13:51

At the end of Q1, Fund Managers will learn the cost of their research use; some may be shocked at its actual value. https://goo.gl/jsV5mp

Friday 6th - 11:52

Pursuing Diversity for Diversity's sake. CalSTRS finds that ability might just be useful after all... https://goo.gl/cZR3Vp

Thursday 5th - 16:48

A big one- Pershing Square hedge fund "investors" rush for the exits, potentially causing a liquidation event... https://goo.gl/vwgZWE

Thursday 5th - 13:51

Has Passive investing "taken over" the market? Not by a long chalk... https://goo.gl/RDdNHx

Thursday 5th - 11:52

Some Managers are introducing "Fulcrum Fees"- here's why they are only a small step forward... https://goo.gl/F1bQ43

Wednesday 4th - 16:48

AUM continues to rise, but under the surface, cost pressures for Fund Managers are causing profit margins to slide. https://goo.gl/ceY2VX

Wednesday 4th - 13:51

Multi-Asset fees ARE falling, but they remain eye-wateringly high. For how much longer? https://goo.gl/QD8Wkg

Wednesday 4th - 11:52

Are Private equity Unicorns in danger of going extinct? They seem to flounder once they go public. (e.g. Snap etc.) https://goo.gl/u86Je5

Tuesday 3rd - 16:48

The perils of herding- 40 Mutual Funds have (each) 6% or more in Amazon stock. And it's down. #diversificationworks https://goo.gl/stbukN

Tuesday 3rd - 13:51

Why #markettiming fails- the best AND Worst days often occur around the same time. https://goo.gl/6ZZBWr

Tuesday 3rd - 11:52

This week's Blog looks at the threat of a trade war- is it real or just politics by other means? https://goo.gl/nvUdGn

Monday 2nd - 16:48

Monday 2nd - 13:51

High activity does not improve risk-adjusted returns (for Hedge funds or anyone else for that matter). https://goo.gl/UKMBXv

Monday 2nd - 11:52

The case for #Sharebuybacks. Of course, lawmakers don't understand them. But then they are lawyers, not economists https://goo.gl/NHwxsW

Sunday 1st - 12:51

Another one bites the dust (and the bullet) Hedge fund closes after 2.4% annual returns since 2014. Blames others... https://goo.gl/Ld2Fef

Sunday 1st - 10:57

Goldman Sachs remain bullish- warning, they MAY have some stocks to sell you. https://goo.gl/1BZg5A

March, 2018

Saturday 31st - 12:51

Interesting trading simulation, wherein investors traded to avoid embarrassment, rather than to maximise returns. https://goo.gl/37CVtj

Saturday 31st - 10:57

The #HedgeFundhotel is back. The names in this list are extremely familiar...and not doing well. https://goo.gl/zT8kbN

Friday 30th - 16:48

Friday 30th - 13:51

As usual, when Regulators get involved, the result is more confusion and less transparency. MiFID II a case in point https://goo.gl/tXJVJQ

Friday 30th - 11:52

This article is rot- Investors have lost NOTHING...unless they sell. #Buyandhold. https://goo.gl/Tt4mUA

Thursday 29th - 16:48

An Interview with #EugeneFama on all-things investing. https://goo.gl/j9zb5p

Thursday 29th - 13:51

The top institutional reason for firing a manager is not fees or returns but "confidentiality" breaches. Don't tell. https://goo.gl/GxeNCj

Thursday 29th - 11:52

Has the #CMA report forced Trustees to consider whether they can justify using Consultants OR Active managers? https://goo.gl/azVVXS

Wednesday 28th - 16:48

Two Academics conclude that 100 years is enough to be "generally" sure of a Fund Manager's ability. Thanks for that. https://goo.gl/ENSdwH

Wednesday 28th - 13:51

A new survey of CIOs reveal they are lowering return expectations and focussing on costs. #Indexinvesting https://goo.gl/dHbCZh

Wednesday 28th - 11:52

Japanese Government Pension fund to pay Active managers ONLY for Alpha generated. If this catches on, trouble ahead. https://goo.gl/RZ2VyE

Tuesday 27th - 16:48

There are MORE than 3 ways to lose all your money in markets, but these are 3 of the best ones... https://goo.gl/GLaScM

Tuesday 27th - 13:51

Time Gentlemen, please! The bell rings on Hedge Funds, as more liquidate than launch in 2017. https://goo.gl/qRV1mA

Tuesday 27th - 11:52

The Active Management Industry continues to peddle the myth that they can beat "inefficient" markets -SPIVA says no. https://goo.gl/JegwDt

Monday 26th - 16:48

As Aberdeen/Standard's takeover of the Virgin UK Index Tracker nears, other costly providers try to avoid the flak. https://goo.gl/sbybMJ

Monday 26th - 13:51

All these points are correct, but a deeper question arises-is the Active Management Industry turning on itself? https://goo.gl/aqf5NM

Monday 26th - 11:52

This week's Blog looks at what the COT reports can tell us. https://goo.gl/vQfrZh

Sunday 25th - 13:51

52% of US institutions surveyed plan to move from Active to Passive funds in the next year. Better late than never! https://goo.gl/f34VZu

Sunday 25th - 11:57

In investing, less is more... https://goo.gl/AsMq2v

Saturday 24th - 12:51

The #CMA lays into Investment consultants; they don't add value and net of fees provide no benefit to investors... https://goo.gl/WzRakM

Saturday 24th - 10:57

None of us liked maths at school- but for investing, it's all too real (and necessary)... https://goo.gl/28bU5e

Friday 23rd - 16:48

Investors have always been exposed to Factors - now, we can target them explicitly (via ETFs etc.) https://goo.gl/ttKHX8

Friday 23rd - 13:51

What is a good benchmark? Does yours pass the "Samurai" test? https://goo.gl/86qyVC

Friday 23rd - 11:52

A chart showing how many US equity funds can REPEAT their strong performance- as per Paul Daniels, "Not a lot"... https://goo.gl/e7Ywwd

Thursday 22nd - 16:48

The Investment equivalent of a "mulligan" in golf - if your fund fails to perform, close it and start again... https://goo.gl/GweL1t

Thursday 22nd - 13:51

Why we use Index investing (and why you should too)... https://goo.gl/JFfYPq

Thursday 22nd - 11:52

Larry Swedroe looks at updated research on Trend following systems (a.k.a. Momentum). It still seems to work... https://goo.gl/q2B1K5

Wednesday 21st - 16:48

3 lessons from the crisis of 2007-09. Actually, they apply at all other times too... https://goo.gl/cjKwop

Wednesday 21st - 13:51

Managers get well paid, DESPITE their performance; its all down to profit margins-which is where Index funds come in https://goo.gl/vjtcJF

Wednesday 21st - 11:52

ETF com on how and why re-balancing a portfolio works for investors https://goo.gl/voZv24

Tuesday 20th - 16:48

Santander "adjusts" its marketing material to admit, er, clarify that some of its funds ARE indeed Closet Trackers. https://goo.gl/v8SoKw

Tuesday 20th - 13:51

The University of California makes a major move into Indexing. Same (fee-related) reasons as everyone else... https://goo.gl/q16SVH

Tuesday 20th - 11:52

YouGov poll reveals most don't trust banks to deliver good investment returns. Index funds/ETFs the most trusted. https://goo.gl/bHnAMG

Monday 19th - 16:48

So much for differentiation- Active Managers haven't sold gun stocks either, undermining their attacks on Passives. https://goo.gl/CCSGvE

Monday 19th - 13:51

First the losses, then the lawsuits. The fallout from the VIX debacle begins... https://goo.gl/n7FPkN

Monday 19th - 11:52

This week's Blog looks at the waning support for capitalism in the west. Is the cycle about to turn again? https://goo.gl/iGWeMX

Sunday 18th - 12:51

Lloyds "outed" as one of the Index Tracker over-charges. Why does this information have to be gouged out of the #FCA https://goo.gl/ZEcsSf

Sunday 18th - 10:57

Luck and risk are two sides of the same coin. It pays to manage both... https://goo.gl/2aTJ1k

Saturday 17th - 12:51

Swedroe talks commodity investment- but the article is more about investment biases... https://goo.gl/2T1gj8

Saturday 17th - 10:57

Active Manager returns are a function of returns to their investment "style"; a.k.a. the luck of the draw...skill? https://goo.gl/CYpsjB

Friday 16th - 16:48

Luck or skill? Manager performance is hard to analyse, but selling out after just 2 years almost guarantees failure. https://goo.gl/Evhrkj

Friday 16th - 13:51

"Volatility reflects the difference between the world as we imagine it to be and the world that actually exists". https://goo.gl/6Gjah2

Friday 16th - 11:52

Returns data for equities shows (once again), that TAA is impossible - can YOU see a (repeatable) pattern? https://goo.gl/83ZV1q

Thursday 15th - 16:48

It appears that Hedge Funds (who no longer hedge) are just following the market. Is losing less a skill? https://goo.gl/D5FSdL

Thursday 15th - 13:51

Not sure that gender is the reason for poor Manager performance - maybe they are just rubbish investors... https://goo.gl/94RcWP

Thursday 15th - 11:52

The #CMA warns that Pension Trustees overestimate their abilities to compare consultants' fees/performance... https://goo.gl/RUzxmg

Wednesday 14th - 16:48

Active managers, having failed to beat the markets for years, are now concentrating their holdings still further... https://goo.gl/QKTNyh

Wednesday 14th - 13:51

S&P 500 sector performance is no more persistent than that of Fund managers - correlation or causation? https://goo.gl/92JtPi

Wednesday 14th - 11:52

Turn off the machines! AI Hedge Funds saw their worst-ever returns in February. They can't react to changing markets https://goo.gl/64ReMM

Tuesday 13th - 16:48

Hedge fund closes as a result of exposure to Steinhoff; it was one of their "high conviction positions". Enough said https://goo.gl/FJycRP

Tuesday 13th - 13:51

The exodus from UK funds picks up in January as Investors go global...double the outflows from December 2017. https://goo.gl/iVZVRP

Tuesday 13th - 11:52

Is the blaming of ETFs for nearly every market crisis a "misunderstanding", or is there self-interest involved...? https://goo.gl/HdoQm4

Monday 12th - 16:48

MiFID costs and fee pressure put the squeeze on asset managers margins. Plese, dry your eyes... https://goo.gl/dcRaeZ

Monday 12th - 13:51

Is this the only threat to Trump's trade policies? The "Dow vigilantes", who will sell the market down to stop him. https://goo.gl/Ax59ch

Monday 12th - 11:52

This week's blog looks at the looming Demographic crisis facing the Developed World. What are the implications? https://goo.gl/uyrqtb

Sunday 11th - 12:51

Why "free" funds are rarely really "free" -you are just paying by another route. Keep 'em peeled... https://goo.gl/N5VFSG

Sunday 11th - 10:57

Tinkering at the edges? Alliance Bernstein tries a new fee structure, but will (formerly) active investors bite? https://goo.gl/8dwJnh

Saturday 10th - 12:51

Not ALL Index Trackers are created equal- Virgin's All-Share tracker is 17x more expensive than alternatives. https://goo.gl/2Ua28a

Saturday 10th - 10:57

Is share buy-backs the right thing to do with the tax cuts? Valuations (and PR) suggest it isn't. https://goo.gl/wU9vxL

Friday 9th - 16:48

Watch what they do, not what they say- Hedge fund manager putting HIS children's money into Berkshire (not HFs)... https://goo.gl/XXchYW

Friday 9th - 13:51

Could the Asset Management industry be "Amazoned"? The battle with Vanguard would be worth the price of admission!! https://goo.gl/iFzuAe

Friday 9th - 11:52

Some are not happy with the level of fines for Closet Indexing. The #FCA STILL won't name the worst offenders..... https://goo.gl/Y1dwFD

Thursday 8th - 16:48

“There’s a lot more dispersion and volatility which should be beneficial if managed PROPERLY” which is why HF's fail https://goo.gl/LiMXVZ

Thursday 8th - 13:51

At last! The #FCA finally gets (sort of) serious with closet trackers and their charges... https://goo.gl/CYgX3n

Thursday 8th - 11:52

Long-term returns will fall- this is not a forecast, its just basic maths... https://goo.gl/yLsQqM

Wednesday 7th - 16:48

Fidelity changes its mind- it WON'T charge research costs to clients; whatever could have prompted that reversal?? https://goo.gl/mBJLte

Wednesday 7th - 13:51

Professor Merton argues fund manager performance analysis is a waste of time (and money). Here's why. https://goo.gl/hpBDdm

Wednesday 7th - 11:52

Is the fund management industry a cartel? "Price clustering" suggests that it is..... https://goo.gl/px4yhN

Tuesday 6th - 16:48

Hedge funds caught out by "the wrong kind" of volatility; reminds me of British Rail and winter weather... https://goo.gl/zXLSXJ

Tuesday 6th - 13:51

Indexing, 10 years on from the 2007-09 panic... https://goo.gl/Jbjrt4

Tuesday 6th - 11:52

When pitching Hedge fund, the best sales tactic is to call them something else-not exactly a recommendation... https://goo.gl/kXPZVU

Monday 5th - 16:48

Some asset management humour...I think. https://goo.gl/ttovjf

Monday 5th - 13:51

UBS study (by UBS employees), claims Active funds BEAT Passives; and a great rebuttal... https://goo.gl/bcid9w, https://goo.gl/nE6nyi

Monday 5th - 11:52

This week's blog looks at Inflation- is it back for good? https://goo.gl/dYVnQD

Sunday 4th - 12:51

Why a market decline is GOOD news..for the young... https://goo.gl/cACZEi

Sunday 4th - 10:57

Investment product providers continue to shirk responsibility for blow-ups in their goods. Plus ca change... https://goo.gl/wMrWgb

Saturday 3rd - 12:51

Is a cumulative lack of market experience helping to make declines worse? Many traders have not SEEN a major decline https://goo.gl/gLpvav

Saturday 3rd - 10:57

All (and probably more than) you need to know about volatility... https://goo.gl/bRRdMB

Friday 2nd - 16:48

Are #Activemanagers FINALLY getting the message on fees? Watch this space. Progress is still glacially slow. https://goo.gl/78DPRB

Friday 2nd - 13:51

Recency bias and the dangers of chasing past performance- in this case, US equities versus global- will hurt returns https://goo.gl/Dpy7an

Friday 2nd - 11:52

Are investment managers "gaming" MIFID cost reporting rules? https://goo.gl/tHxeJD

Thursday 1st - 16:48

Peak popularity?An investor puts ALL his investments in Fundsmith equity and Lindsell Train- current market darlings https://goo.gl/zTgDwY

Thursday 1st - 13:51

Tracking Error-what is it and why it is important for fund investors https://goo.gl/5MprjL

Thursday 1st - 11:52

Manager risk and the effect on investors from their departure... https://goo.gl/2d4jCC