EBI Tweets

December, 2017

Sunday 31st - 12:51

Watch what they do not what they say edition: Morningstar's own employee funds focus on fees... https://goo.gl/tuPhWU

Sunday 31st - 10:57

Ignore forecasts- focus on allocation, risk tolerance, and fees...and then go to the beach... https://goo.gl/a51jpt

Saturday 30th - 12:51

Most Pundits forecasts for 2017 were wildly inaccurate: it won't stop the same people repeating the exercise in 2018 https://goo.gl/Q47Pg2

Saturday 30th - 10:57

Price and Value are un-related in #Investmentmanagementfees; how to tell if your fund manager is "in the closet"... https://goo.gl/zufrtX

Friday 29th - 16:48

Turn the market's negative sum game positive. #valueinvesting. https://goo.gl/uX4qJg

Friday 29th - 13:51

If you are forecasting a crash you'd better be accurate. 74% accurate in fact. Average accuracy is 29-66%. Caveat... https://goo.gl/4VSL7q

Friday 29th - 11:52

According to #AQR, Fixed Income active managers have beaten their benchmarks largely by being overweight junk bonds. https://goo.gl/NBbXJ2

Thursday 28th - 16:48

Bitcoin is a "massive scam" according to this (ex) Broker- and he really ought to know all about scams... https://goo.gl/njJKd3

Thursday 28th - 13:51

The paradox of risk- underperforming funds take EVEN MORE risk at year-end to avoid lagging, and thus losing assets. https://goo.gl/GY4gzb

Thursday 28th - 11:52

The man who predicted #Dow36000 (in 1999!) now feels "vindicated" by the market's recent gains. Is he serious??? https://goo.gl/Z8y6NX

Wednesday 27th - 16:48

Wednesday 27th - 13:51

Feet of clay edition- the big #HedgeFund titans go the way of the dinosaurs, as the market asteroid (passive) hits. https://goo.gl/EYJv4H

Wednesday 27th - 11:52

This week's Blog looks at Bitcoin- is it a bubble? Who's buying? https://goo.gl/pgFyJ2

Tuesday 26th - 16:48

Tuesday 26th - 13:51

Tuesday 26th - 11:52

Yield curve inversions MAY predict recessions etc. but do you really think you will see it before Wall Street? No. https://goo.gl/P8M5tL

Monday 25th - 16:48

Monday 25th - 13:51

Monday 25th - 11:52

BT Investment Management worried about a bubble (caused by ETF's/Indexers)..but are raising EM equity weights anyway https://goo.gl/Wms1TR

Sunday 24th - 12:51

Sunday 24th - 10:57

A hedge fund with 50% of its assets in Bitcoin? Doesn't sound very "hedged": nothing could possibly go wrong... https://goo.gl/c31zum

Saturday 23rd - 12:51

Big South African fund manager's reaction to the Steinhoff collapse? Complete silence, as they didn't see it coming. https://goo.gl/PqTAsi

Saturday 23rd - 10:57

Japan's Government pension fund to enact (shock, horror) performance fees for their Active managers. Cue outrage... https://goo.gl/m3fYhi

Friday 22nd - 16:48

4 reasons why investors DONT get excited when prices drop (unlike in shopping); maybe they should... https://goo.gl/TdZbs4

Friday 22nd - 13:51

As usual, market analysts see the bubble in Bitcoin- in markets (where they get their income) not so much... https://goo.gl/aJxsnr

Friday 22nd - 11:52

Apparently, some fear the return of Inflation next year- in asset price terms, it is already here... https://goo.gl/8i8dUj

Thursday 21st - 16:48

RIP EMH? Its the Dotcom bubble all over again... https://goo.gl/sXHWa1

Thursday 21st - 13:51

Investopedia's' top ten 2017 searches give a good indication of what the year was about... https://goo.gl/442u18

Thursday 21st - 11:52

4 Reasons why Economists are wrong about asset prices- only 4? #diversify #buyandhold. https://goo.gl/dozktw

Wednesday 20th - 16:48

According to this chart, Active managers are "all in" on the equity rally and are actually LEVERED! #markettiming https://goo.gl/afdb3b

Wednesday 20th - 13:51

Another Hedge fund protege calls it a day, as Long/Short strategies increasingly look impossible to sustain. https://goo.gl/U3LP1v

Wednesday 20th - 11:52

More of the same edition- another active manager expects Active managers to do well in 2018... https://goo.gl/fnRiyx

Tuesday 19th - 16:48

Hedge funds struggling to keep up with Chinese equities too, as short positions rise faster than their longs... https://goo.gl/aqtt1N

Tuesday 19th - 13:51

The #SLAberdeen merger has not yet staunched the outflows- returns will dictate what happens next... https://goo.gl/rsPw71

Tuesday 19th - 13:51

The Church moves in mysterious ways; having seen years of underperformance, they are moving to smaller hedge funds. https://goo.gl/G9upJL

Monday 18th - 16:48

Is Fidelity's "Fulcrum fee" model a sign of weakness in active world? Investors may struggle to notice the change https://goo.gl/7jWygD

Monday 18th - 13:51

History repeats for Investors, as "everybody was making too much money to take notice” of what #Steinhoff was doing. https://goo.gl/tbVisk

Monday 18th - 11:52

This weeks Blog puts Active Management on "trial"... https://goo.gl/Psh1Gw

Sunday 17th - 12:51

Follow the money edition- top politicians to gain from reductions in "pass-through" income levies... https://goo.gl/P1aLrL

Sunday 17th - 10:57

Jamie Dimon confirms Bogle's fears re: the Corporate response to Trump's tax cuts... https://goo.gl/Eqj7wa

Saturday 16th - 12:51

"Active share", once touted as a precursor of advance indication of outperformance, appears to do no such thing... https://goo.gl/HfWZkj

Saturday 16th - 10:57

S.A Conglomerate gets into financial trouble, but Active managers own it too. What happened to meticulous research? https://goo.gl/6k9mE7

Friday 15th - 16:48

If the Long/Short Hedge fund model dies, they will just go further along the risk scale to generate returns... https://goo.gl/FrooVh

Friday 15th - 13:51

Wall Street Journal columnist Jason Zweig talks about the "abysmal art" of investing and how to survive it. https://goo.gl/zpPPeB

Friday 15th - 11:52

The Chair of the #FCA's fee probe panel has had to apologise for these comments. What part of them is wrong? https://goo.gl/Ay9Apm

Thursday 14th - 16:48

In a High-Frequency news cycle, it is important to avoid the noise; start by switching off Bloomberg TV... https://goo.gl/dT6Bt9

Thursday 14th - 13:51

Sector rotation becomes extreme, cutting Fund Manager's yearly gains. Why not just own it all? https://goo.gl/mwPpCU

Thursday 14th - 11:52

49% of Active funds have beaten their BM-the best since 2009- a positive factor? A reason to buy into Active? https://goo.gl/m1nz8W

Wednesday 13th - 16:48

Is Bitcoin being used as a haven against #hyperinflation by wealthy EM families? It may explain its popularity... https://goo.gl/J1xw24

Wednesday 13th - 13:51

According to Bogle, Pension funds will bear the brunt of low interest rates- thanks to the Fed,BOJ etc. https://goo.gl/4MFww1

Wednesday 13th - 11:52

As usual forecasts of a crash are mysteriously short of a timescale; more " value-added" analysis from Fund managers https://goo.gl/z8uixQ

Tuesday 12th - 16:48

The best argument for NOT buying IPO's (or Wall Street/City products). They know what they are selling-do you? https://goo.gl/U2cCEE

Tuesday 12th - 13:51

What's in your ESG portfolio? Macdonalds, Conoco, Phillip Morris? You might be (unpleasantly) surprised... https://goo.gl/jHLkJL

Tuesday 12th - 11:52

McKinsey study foresees a 20-year struggle for Asset Managers; most won't survive... https://goo.gl/RYJ8Q4

Monday 11th - 16:48

This article touts "outrageous" predictions for 2018. Some might describe the whole process as outrageous-or stupid. https://goo.gl/HSZX2m

Monday 11th - 13:51

#CognitiveDissonance alert- Institutions expect asset bubbles to form, but think Active Managment is the solution. https://goo.gl/PjwkWc

Monday 11th - 11:52

The paradox of Active manager diversification; the more they do so, the more they become the Index funds they fear.. https://goo.gl/Vm46fw

Sunday 10th - 12:51

A graphical illustration of #riskandreturn, from Netwealth investments. https://goo.gl/uGEczh

Sunday 10th - 10:57

As"Index funds" numbers expand relentlessly, they are getting more concentrated-straying from the original intent. https://goo.gl/vhqZR8

Saturday 9th - 12:51

UK Institutions warn investors of bubble risks, whilst assuring all who would listen that THEIR portfolios are safe. https://goo.gl/fwcWKB

Saturday 9th - 10:57

Is there pressure on policymakers to go after #Indexfunds on spurious "competition " grounds. It could happen... https://goo.gl/tEpyVx

Friday 8th - 16:48

Are fund managers "virtue signaling" in their push towards Green investments? They certainly won't bear the costs... https://goo.gl/CwDCFF

Friday 8th - 13:51

Vanguard and Blackrock between them could run $20 trillion in assets in a decade (if you extrapolate endlessly ...) https://goo.gl/v66PZJ

Friday 8th - 11:52

Morningstar asks if Multi-Manager fees are too high; not sure you need an interview to work that out... https://goo.gl/Ugw8QW

Thursday 7th - 16:48

Public Pensions, whilst in deficit, are pushing ESG policies, but CIOs don't have them in their OWN pension plans... https://goo.gl/5DeSqj

Thursday 7th - 13:51

Be careful what you wish for- Bond managers want more volatility for Christmas. They may well get it... https://goo.gl/nC7M2Z

Thursday 7th - 11:52

Fund trading costs can multiply OCFs by up to 4 times according to this study. Look for low turnover funds. https://goo.gl/tFVDTv

Wednesday 6th - 16:48

Is "political noise" why markets fear correction? It has much less effect on asset prices than most imagine... https://goo.gl/hkVZdp

Wednesday 6th - 13:51

Market "skewing" can blur what happens in market averages- unless you own all of the components. #indexinvesting. https://goo.gl/pGogKY

Wednesday 6th - 11:52

“Contrarian portfolio management can add to long-term returns,”-possibly, but that's not what Managers actually DO. https://goo.gl/JLUBx6

Tuesday 5th - 16:48

This article complains about the role of Central Banks in the growth if income inequality; all true, but of no help. https://goo.gl/es6voL

Tuesday 5th - 13:51

Be careful what you measure- the role of incentives in fund manager performance. You don't always get what you want. https://goo.gl/WDQ8WV

Tuesday 5th - 11:52

Past performance of a fund tells you nothing about future returns- except when they are expensive... https://goo.gl/9QzhNV

Monday 4th - 16:48

Another sign of the demise of Active management? BT looking to sell off its own business. Informed seller? https://goo.gl/uyphFV

Monday 4th - 13:51

Meet the new (Fed) boss- same as the old boss... https://goo.gl/CRd6uZ

Monday 4th - 11:52

This week's Blog looks at Bonds in general and Credit risk in particular. https://goo.gl/GNNca5

Sunday 3rd - 12:51

And here's why... https://goo.gl/H1H9VS

Sunday 3rd - 10:57

Will the much-touted tax cuts REALLY benefit ordinary people? Jack Bogle thinks not. #Followthemoney... https://goo.gl/daKyBH

Saturday 2nd - 12:51

Who's afraid of Jeremy Corbyn? Not Infrastructure fund investors; this could get interesting very soon... https://goo.gl/4WMuEf

Saturday 2nd - 10:57

Least surprising story of the week- a US bank overcharging clients- this time in FX transactions. https://goo.gl/mgBcTf

Friday 1st - 16:48

As Vanguard's CIO says, Index investing is all about costs- the ball is in Active manager's court-what will they do? https://goo.gl/6GrycZ

Friday 1st - 13:51

Defining #Irrationalexuberance doesn't help with timing markets- because there isn't a consistent definition. https://goo.gl/pDPFqK

Friday 1st - 11:52

If variable fee structures proliferate, fund manager comparisons will be much harder- isn't that the idea? https://goo.gl/c5Uwto

November, 2017

Thursday 30th - 16:48

“It is important to consider an entire market cycle while evaluating a fund’s performance". The excuses continue... https://goo.gl/m5n5JN

Thursday 30th - 13:51

Fidelity (finally) reveals details of it's new "Fulcrum" fees- will it be enough to stem the retreat from Active? https://goo.gl/AuGacn

Thursday 30th - 11:52

ETF assets predicted to surge by 73% to $7.6 TRILLION by 2020 according to this survey... https://goo.gl/qFEJGL

Wednesday 29th - 16:48

The calls for the "death of value investing" get louder: or has its definition just changed? https://goo.gl/fsMQQF

Wednesday 29th - 13:51

One advisor's solution to "over-valued" equities and bonds- buy "private credit" and mortgages... https://goo.gl/HCyycq

Wednesday 29th - 11:52

One year on from the FCA's Asset management review, the glacial pace of change continues, as Fund Managers dig in... https://goo.gl/bDV4mr

Tuesday 28th - 16:48

Index providers force politicians to jet set around the world to avoid their nation's "relegation" from Indices... https://goo.gl/PmGiiX

Tuesday 28th - 13:51

Hedge funds are crowding into Tech stocks and not hedging their exposures anymore- so what IS the point of them? https://goo.gl/wjDa8S

Tuesday 28th - 11:52

Active managers attempt to persuade that their's is the winning strategy-which it is; just not for you... https://goo.gl/wh16ai

Monday 27th - 16:48

London Council weighs "equity protection" strategies; will they understand the risks? https://goo.gl/f1HgXo, https://goo.gl/TSsQ6y

Monday 27th - 13:51

Another "expert" provides useless advice- 10% market fall sometime between November and February? Please... https://goo.gl/2bhCN7

Monday 27th - 11:52

This week's Blog looks at how your returns would fare with perfect foresight- not as good as you might imagine... https://goo.gl/XYyqFw

Sunday 26th - 12:51

CALPERS plans to sell stocks this year; let's hope their foray into market timing does better than previous efforts. https://goo.gl/6ynXYD

Sunday 26th - 10:57

HL on the dangers of #overtrading; shame they spend so much time trying to get clients do just that... https://goo.gl/JmX3B1

Saturday 25th - 12:51

In investing, the Tortoise beats the Hare every time; #markettimingfails. https://goo.gl/aKe51#

Saturday 25th - 10:57

In the 10 years to 2016, UK Fund managers received 8.5x more than their clients; why ARE investors going passive..? https://goo.gl/gVSzXv

Friday 24th - 16:48

Shock, horror- fund managers are manipulating #SharpeRatios to mask their underperformance- look under the bonnet... https://goo.gl/kbnr9F

Friday 24th - 13:51

Cheerleading for Hedge funds edition: browse the stellar returns, while noting that the S&P 500 is +18.1% Y-T-D... https://goo.gl/UeLRwa

Friday 24th - 11:52

Blending Factor exposures (when done prudently) can both raise returns BUT ALSO reduce risks (#diversification). https://goo.gl/XWzFPS

Thursday 23rd - 16:48

MIFID will most likely make Fund Manager charges clearer- which is what the latter fears most... https://goo.gl/MRy7qt

Thursday 23rd - 13:51

LGIM to go more Active- is this really what their investors want? Seems to be more about them than their clients. https://goo.gl/EpzCb7

Thursday 23rd - 11:52

"Predictions" for 2018 from Jack Bogle- note the complete lack of Index targets beloved of City/Wall Street analysts https://goo.gl/xb3XJd

Wednesday 22nd - 16:48

#AQR talks sense on Passive versus Active- it is the latter, not the former that is too big... https://goo.gl/uBwUiB

Wednesday 22nd - 13:51

Alpha is hard to persistently deliver...becasue there are too many (Hedge fund?) players chasing it... https://goo.gl/A9rzwK

Wednesday 22nd - 11:52

Not quite as "easy " as it may seem- what happens to your money when you invest in an #Indextracker... https://goo.gl/cP3Z1o

Tuesday 21st - 16:48

Holding cash can be dangerous- if you just hold it. Its value is in optionality, i.e. what you do with it. https://goo.gl/LWYeEu

Tuesday 21st - 13:51

The #OverConfidence effect on investment performance; strangely, only c.50% of the population are affected... https://goo.gl/zKcfqn

Tuesday 21st - 11:52

Equity Income has been a hot sector over the last 5 years- but some funds have left investors high and dry. https://goo.gl/8pEBwm

Monday 20th - 16:48

Could Amazon, Google and Apple take out asset managers from the investment industry? They look tempting targets... https://goo.gl/pKQhFH

Monday 20th - 13:51

The Fallacy of Composition- diversifying in Active funds INCREASES your chance of underperforming (and costs more). https://goo.gl/VwFnNe

Monday 20th - 11:52

Apart from better returns, Passive investing frees up time -for more value generating activities (for clients)... https://goo.gl/kpyqJU

Sunday 19th - 12:51

Only in Japan... https://goo.gl/bVUSRC

Sunday 19th - 10:57

Shiller calls Passive investing "chaotic"- I look forward to the launch of Shiller Active fund to take advantage... https://goo.gl/kYSHte

Saturday 18th - 12:51

The "positive feedback" effect on asset prices and how they affect sentiment (and maybe cause bubbles). https://goo.gl/qaL9Ge

Saturday 18th - 10:57

Norway's Wealth fund to reduce purchases of Oil and Gas stocks-its called diversification and seems eminently sound. https://goo.gl/eAKcAM

Friday 17th - 16:48

What the S&P 500 returns is WAY above what investors receive...#markettimingfails https://goo.gl/7SMqov

Friday 17th - 13:51

Lower fund costs should be unmitigated good news, but fund managers lose income- hence their opposition... https://goo.gl/koCWWa

Friday 17th - 11:52

Will the fund industry ever openly disclose its fees? No, which is why we (and others) increasingly use Vanguard... https://goo.gl/UZb6Cu

Thursday 16th - 16:48

The Hedge fund investor who lost his bet with Buffett blames the Fed- not the fees. Hmmm. https://goo.gl/Jrheak

Thursday 16th - 13:51

Fund ratings assume managers have skill- when luck dominates, -as is mostly the case- they lose their usefulness. https://goo.gl/L3fFqf

Thursday 16th - 11:52

Swedroe explains why embracing #Activemanagment won't achieve your financial goals...ever! https://goo.gl/ajEEMc

Wednesday 15th - 16:48

Momentum works- ignore it at your peril! https://goo.gl/GttN2A

Wednesday 15th - 13:51

Forget the hype- there are just 3 reasons for the rise of Passive investing: cost, transparency, and performance... https://goo.gl/cmvBa6

Wednesday 15th - 11:52

If you do the RIGHT Due Diligence on #Activefunds...you would never invest with them. https://goo.gl/i1G5RM

Tuesday 14th - 16:48

Why Psychology is an input for an investor... https://goo.gl/Z4crDi

Tuesday 14th - 13:51

Most of the criticism of Passive/ETF investing is to do with a loss of income for Active managers. Ignore it... https://goo.gl/rCvyxy

Tuesday 14th - 11:52

According to a new Fidelity study, women are better investors than men; why? Because they invest like an Indexer... https://goo.gl/H5Hhzf

Monday 13th - 16:48

Of course, the "rich" should pay their fair share of tax...but if given the chance to do the same, would we pay it? https://goo.gl/JBSV8T

Monday 13th - 13:51

Correlations between your asset holdings are what really matters for a diversified portfolio. https://goo.gl/pJh9kF

Monday 13th - 11:52

While it is always nice to see a (Hedge Fund) sinner repent, it really shouldn't take losing $1 million to do so.... https://goo.gl/96GtGz

Sunday 12th - 12:51

Multi-Asset managers accused of "daylight robbery"- at least Dick Turpin had the decency to wear a mask... https://goo.gl/km4eHh

Sunday 12th - 10:57

September was another record month for Retail fund buying...but the UK lags behind again as investors buy Overseas. https://goo.gl/orLRQr

Saturday 11th - 12:51

Here are some of the metrics we use when doing our Q2 research reports. https://goo.gl/CAxwkN

Saturday 11th - 10:57

The headline here is misleading; Bogle is not against trading FANG stocks- he's against trading, full stop. https://goo.gl/pgDkQB

Friday 10th - 16:48

Is the "Passive Investing is taking over the World" meme over-hyped. Some think it is... https://goo.gl/fGwpmr

Friday 10th - 13:51

You may believe that a market top is imminent, but the chances of getting the timing right are vanishingly small. https://goo.gl/RENuYA

Friday 10th - 11:52

Think there's a bear market coming? Here's what might happen to you (and your fund's performance)... https://goo.gl/6VfsCY

Thursday 9th - 16:48

As Bond yields fall, so the pressure on Active Managers to chase yield rises- portfolio credit quality suffers... https://goo.gl/mKRzTe

Thursday 9th - 13:51

Clients wanting to buy #Hedgefunds? Here's how to put them straight... https://goo.gl/UtQkdp

Thursday 9th - 11:52

"Academics" suggest Index funds lead to monopoly behavior amongst companies; who is paying for this "research"...? https://goo.gl/XjrGvw

Wednesday 8th - 16:48

Prediction is futile so, er..focus on spotting trends and knowing when to get out of them? Eh ? https://goo.gl/rDQUxh

Wednesday 8th - 13:51

“Active asset allocation is more of an art than a science and there are VERY FEW fund managers who can do it well.” https://goo.gl/aoVmSk

Wednesday 8th - 11:52

Moneywise asks the wrong question- it's not whether managers have lost their touch- did they ever really have it? https://goo.gl/Umx8Tc

Tuesday 7th - 16:48

Irony alert- millionaire CEOs don't like me, says (billionaire) man of the people Bill Ackman. Hmmmm. https://goo.gl/MKBcn2

Tuesday 7th - 13:51

"Me too" stampede as Active managers rush to launch their own ETFs. Credibility lacking? https://goo.gl/tstTcY

Tuesday 7th - 11:52

An antidote to the tide of vitriol aimed at ETFs (and by extension, passive investing)... https://goo.gl/uh1Moe

Monday 6th - 16:48

First Panama, now the Paradise Papers, showing that only the little people pay tax...for the 1% its optional. https://goo.gl/xWjT4w

Monday 6th - 13:51

Another fund boss (this time from AQR), predicts lower real returns on portfolios. This time just 2% p.a. ! https://goo.gl/KnK9DQ

Monday 6th - 11:52

This week's blog looks at Risk - in all its forms... https://goo.gl/aBoEBK

Sunday 5th - 12:51

Spurious correlation alert- don't invest this way at home! https://goo.gl/KDcqE1

Sunday 5th - 10:57

Having failed to beat Passive funds, Active managers have roped in an "academic" to help pursue a legal challenge... https://goo.gl/s6JYEF

Saturday 4th - 12:51

"Responsible" investing done irresponsibly.. Venezuelan bonds? Whatever next? https://goo.gl/kJb2da

Saturday 4th - 10:57

Pension funds are flocking to ETFs too- it's not just "dumb money" then? https://goo.gl/zrFTey

Friday 3rd - 16:48

Financial sector "trust" is in short supply and not just in Australia. Which is why advisers are vital... https://goo.gl/uAJQs4

Friday 3rd - 13:51

Data overload- another way fund managers conceal their actual returns. What could they possibly have to hide ? https://goo.gl/THpb2r

Friday 3rd - 11:52

As the Fed sells bonds, there will be some sizable buyers- its not all doom and gloom for bond markets... https://goo.gl/z4ax5Z

Thursday 2nd - 16:48

Household ownership of Mutual funds has dropped from 63% in 2010 to just 39% now, as ETF's gain popularity... https://goo.gl/oQ1RbL

Thursday 2nd - 13:51

Behavioral science suggests watching markets TOO closely causes Investors to become risk-averse; don't watch! https://goo.gl/Mm8u5d

Thursday 2nd - 11:52

#Activemanagers are adapting to Passive investing by mimicking them- so, what is the point of them then? https://goo.gl/vk4Znh

Wednesday 1st - 16:48

Investor anomalies ARE strange- but if all invested in this way, there would be lower returns available for Passive https://goo.gl/p6nees

Wednesday 1st - 13:51

Star ratings DONT tell investors whether they will beat the market-only other funds. But they are good for business. https://goo.gl/kbGAe2

Wednesday 1st - 11:52

Could fund fees reach Zero? There's not far to go now... https://goo.gl/sXD1wb

October, 2017

Tuesday 31st - 16:48

PWC forecasts Global Assets will rise to $145 trillion by 2025-if a downturn doesn't intervene first of course... https://goo.gl/qh3Bdm

Tuesday 31st - 13:51

US Pension funds moan about Private Equity fee structures, but still pay them- who's the real sucker? https://goo.gl/k6NKFX

Tuesday 31st - 11:52

Is Vanguard about to experience the law of diminishing returns? Bogle thinks it might be near-we shall see... https://goo.gl/UGG8Ss

Monday 30th - 16:48

More evidence of the lack of performance persistence amongst top funds, this time from Morningstar. https://goo.gl/93aj4x

Monday 30th - 13:51

Is it becoming "unfashionable" to run diversified portfolios? Reliance on manager "skill" rises at the same time... https://goo.gl/P8eGC1

Monday 30th - 11:52

This week's Blog looks at "the most hated bull market in history" and asks why market players are so miserable.... https://goo.gl/iKaLtv

Sunday 29th - 11:51

Here is Vanguard's explanation for the move away from Dilution levies to Swing Pricing. https://goo.gl/oMDY16

Sunday 29th - 09:57

Vanguard recently introduced "#swingpricing" in its mutual fund range; what is it? https://goo.gl/9y2URS

Saturday 28th - 12:51

The "defense" of active investing turns out to be that markets are in error- does that not apply to Active investors https://goo.gl/HV9ruW

Saturday 28th - 10:57

Fund managers choke on their Turkey as the #FCA plans to make the reveal their true fees by Christmas- bah humbug. https://goo.gl/kQ3R1C

Friday 27th - 16:48

The rise of Momentum- all you need to know about how and why it works... https://goo.gl/HqFDd8

Friday 27th - 13:51

Black Swans -what they are and how to deal with them. https://goo.gl/oAMtLZ

Friday 27th - 11:52

Another interview with Jack Bogle in which he again downplays return expectations. 4% p.a. Equities,3% p.a. bonds. https://goo.gl/bvDiyX

Thursday 26th - 16:48

You know you've lost the arguments when you resort to insulting your opponents- who's the REAL sucker? https://goo.gl/NxDVEs

Thursday 26th - 13:51

Active managers failed to foresee the rise of Passive investing- how can we trust them to spot good investments then https://goo.gl/YoxNgE

Thursday 26th - 11:52

As the market rises, analysts/commentators get more bearish- only when they turn bullish will the market turn(south) https://goo.gl/A5vyQx

Wednesday 25th - 16:48

A "stock-pickers market" won't help Active managers- they will just underperform in a different way... https://goo.gl/RRKvv5

Wednesday 25th - 13:51

What do Jack Bogle and Nobel economist Thaler have in common? A very similar approach to Investing... https://goo.gl/WgzoUx

Wednesday 25th - 11:52

Here's why boring is better; it gets the job done without the need for expertise, so EVERYONE should be doing it. https://goo.gl/o7Lkmh

Tuesday 24th - 16:48

Why Fidelity's "fulcrum fee" plan probably won't work (for them). It switches costs rather than lowering them. https://goo.gl/2DjFRR

Tuesday 24th - 13:51

Market timing is expensive. "Being there" is what investors need to achieve. #Stayinvested. https://goo.gl/rbWd45

Tuesday 24th - 11:52

Are your #activefund managers underperforming? Here are a few things you can do... https://goo.gl/1EJKpr

Monday 23rd - 16:48

Examine your risk tolerances here- if you have already "won " the investment game, why not take risk off the table? https://goo.gl/pJebaa

Monday 23rd - 13:51

International investing is all about context; Bogle's US perspective is probably right - from the UK it's different https://goo.gl/A4sg2A

Monday 23rd - 11:52

This week's blog looks at bubbles. the how and the why... https://goo.gl/7kXwPY

Sunday 22nd - 12:51

Wells Fargo brokers made unsuitable recommendations to clients but it was NOT Wells' fault- yeah, right.... https://goo.gl/buP1u5

Sunday 22nd - 10:57

Sage advice from a #Hedgefundmanager- wait for a 10-15% decline...then do what? Sell? https://goo.gl/714bqX

Saturday 21st - 12:51

Where once we had "closet indexing" now we have "greenwashing", as managers compete for the "Green pound" https://goo.gl/hxsvfM

Saturday 21st - 10:57

Sanford Bernstein displays its flexibility when it comes to "Marxist" strategies it once decried, launching 2 ETFs. https://goo.gl/7GbxJe

Friday 20th - 16:48

UK Inflation hits 3%, so rate rises are a done deal? Er, not so fast- the BOE has chickened out many times before... https://goo.gl/SW4fBQ

Friday 20th - 13:51

Google search "dangers of passive investing"; you get 10,000 entries- how many are from Active managers? https://goo.gl/hP7jNZ

Friday 20th - 11:52

#RiskParity makes many (important) assumptions. If they don't hold, a 60/40 portfolio is better (and much cheaper). https://goo.gl/j8YA97

Thursday 19th - 16:48

30 years on from the 1987 Crash, two unanswerable (and thus entirely pointless) questions.. https://goo.gl/21yScm, https://goo.gl/iN42tx

Thursday 19th - 13:51

Investors are "#buyingthedip" every time- the question is, what dip? https://goo.gl/Bb7ahL

Thursday 19th - 11:52

Fund manager believes GARS has been treated "harshly" by ignorant investors- does he has any of his OWN money in it? https://goo.gl/W271AZ

Wednesday 18th - 16:48

Passive funds are bought. Active funds are SOLD- there is a big difference, mainly related to the ease of selling... https://goo.gl/DsL2NB

Wednesday 18th - 13:51

US University funds (once again) see their high-cost Alt fund investments under perform-they're not that clever then https://goo.gl/iAsLW2

Wednesday 18th - 11:52

Millennial Scots are increasingly interested in ESG funds; as usual, fund managers have a product to sell to them. https://goo.gl/zXGkTC

Tuesday 17th - 16:48

An IPS can be a useful addition to an investor's arsenal- if only to remind them what they are aiming to achieve. https://goo.gl/ZiZkkf

Tuesday 17th - 13:51

There are 10,000 US Mutual Funds (and 800 MF managers); plenty of room for "consolidation"- ie. closures.... https://goo.gl/1Fg6Rg

Tuesday 17th - 11:52

"The idea that old defaulters won’t do it again has gained traction". The reason for Junk bonds popularity? Oh dear. https://goo.gl/A92QkT

Monday 16th - 16:48

The problem for Active managers- even if they do it the right way, short-term clients get impatient..and sell... https://goo.gl/gk9VZv

Monday 16th - 13:51

#Markettiming requires the investor to get it right TWICE...which is why it rarely works... https://goo.gl/jwoXG1

Monday 16th - 11:52

A neat summary of the Active/Passive debate. Are active managers (finally) conceding that costs are THE major issue? https://goo.gl/PCY7W4

Sunday 15th - 12:51

What has made Vanguard so successful? If you said low fees, you are not seeing the whole picture... https://goo.gl/ZCsMo5

Sunday 15th - 10:57

Can "Impact" funds provide an ethical guide AND acceptable returns? Depends on the definition of "acceptable"... https://goo.gl/upnSHW

Saturday 14th - 12:51

Performance fees for Active managers are all very well, but if transparency does not improve, faith will not recover https://goo.gl/BMwTB1

Saturday 14th - 10:57

$2500 an hour fees to speak to an analyst at Morgan Stanley; as good a reason as any to forego research altogether! https://goo.gl/xmYrYi

Friday 13th - 16:48

Fallen Hedge fund star to return with 2.75% AMC and research costs paid by investors: are they REALLY that gullible? https://goo.gl/Y34ZCq

Friday 13th - 13:51

Fund manager touts "conviction" as the key to investment success...problem: other managers have "conviction" too... https://goo.gl/2GdkdB

Friday 13th - 11:52

Next time you hear a stock tip, ask what the tipper knows that the market doesn't: answer = nothing... https://goo.gl/MXDC7w

Thursday 12th - 16:48

You are highly unlikely to "get rich quick" using market timing, but you might get poor in the same space of time. https://goo.gl/DkkjpZ

Thursday 12th - 13:51

The perfect response to market pundits... https://goo.gl/CzA8XE

Thursday 12th - 11:52

Fidelity and Amundi stand out as requiring clients to pay for Research post MIFID. Not sure clients will acquiesce..https://goo.gl/hHu7N9

Wednesday 11th - 16:48

If you can't beat Indexing over performance, try legal/regulatory measures to protect Active funds' vested interests https://goo.gl/VTht2v

Wednesday 11th - 13:51

Fidelity grabbed the headlines with its new performance fee model, but questions remain; still no details on levels. https://goo.gl/mqHt2h

Wednesday 11th - 11:52

Another Hedge fund closes, after a truly dreadful performance; the usual suspects are blamed- but not themselves... https://goo.gl/mdweWq

Tuesday 10th - 16:48

Another "October crash" article- roll on November... https://goo.gl/vAQbXr

Tuesday 10th - 13:51

You make not like current market action, but the market does not care one iota. Keep calm and #stayinvested... https://goo.gl/h8gMfo

Tuesday 10th - 11:52

Another example of what we pointed out re: ESG criteria in our blog this week. https://goo.gl/GcVjhz https://goo.gl/DTAmxF

Monday 9th - 16:48

SL joins the fund price war; but it has nothing to do with Vanguard etc. OK, got it. https://goo.gl/XYMaZZ

Monday 9th - 13:51

ETFs dont work for Ethical investors, due to "customisability"; but doesn't this apply to ALL funds? https://goo.gl/GBC8Ao

Monday 9th - 11:52

This weeks bog looks at ESG; is this a way to do "good" and make good money? https://goo.gl/DTAmxF

Sunday 8th - 12:51

54% of Active managers are beating their benchmarks in 2017. And this is a record? How bad does it get? https://goo.gl/CqSTSw

Sunday 8th - 10:57

Nearly half of asset management firms have not (publicly) decided what to do about research costs and who pays.. https://goo.gl/H2bnPL

Saturday 7th - 12:51

Morningstar research demonstrates Active manager under-performance is global and not confined to the US... https://goo.gl/gXUUmr

Saturday 7th - 10:57

Passive funds own less than 20% of global equities- they trade infrequently. How could they possibly "set prices"? https://goo.gl/pHQwgB

Friday 6th - 16:48

As in the UK, a large percentage of the worst performing, most expensive Aussie funds are run by Banks. Coincidence? https://goo.gl/mwb6ts

Friday 6th - 13:51

Time is WAY more important than timing; what matters is getting to the destination, not how fast you do so. https://goo.gl/s1nGid

Friday 6th - 11:52

Hedge fund managers trying to "catch up" with market returns. Are they responsible for the recent equity surge? https://goo.gl/JmYdfQ

Thursday 5th - 16:48

More evidence of the move towards Global Portfolios as investors sell the UK... https://goo.gl/jGVwCn

Thursday 5th - 13:51

The #FCA's recent report on the asset management industry may raise more questions than it answers... https://goo.gl/F8TJYM

Thursday 5th - 11:52

Get rid of one previously hot fund manager in favour of another (who is hot now). More journalistic tripe... https://goo.gl/he6gKd

Wednesday 4th - 16:48

Buffett finds another mug, er, Hedge fund manager to take an Index versus Passive bet. This time it's different...? https://goo.gl/znGhJY

Wednesday 4th - 13:51

According to this study, the relationship between portfolio turnover and return is inverse. #markettiming https://goo.gl/VYwkBv

Wednesday 4th - 11:52

Fidelity to introduce #performancefees for their Active funds; a start, but details are lacking for now. https://goo.gl/e5MbTZ

Tuesday 3rd - 16:48

One day, we might just get a defense of #Activemanagement from someone who doesn't benefit from its use... https://goo.gl/f1FrgX

Tuesday 3rd - 13:51

10 years on from the 2007 market peak, 4 lessons we should ALL learn about how to invest (successfully). https://goo.gl/gyAbYj

Tuesday 3rd - 11:52

Opponents of Passive etc. drone on about #marketinefficiency etc. So how do they explain the DROP in correlations? https://goo.gl/NakC1d

Monday 2nd - 16:48

The cards are stacked against investors in Active funds both from an investment AND legal perspective... https://goo.gl/ydApZX

Monday 2nd - 13:51

Is this a problem for Woodford, or for promoters of Active funds generally (ahem... HL). https://goo.gl/8z7eWf

Monday 2nd - 11:52

This week's blog looks at market breadth and comes to a different conclusion to the norm (as you might expect)... https://goo.gl/Vovj6c

Sunday 1st - 12:51

One Scheme is putting their"faith" in Active management; I suspect that this will be sorely tested in years to come https://goo.gl/wkX1sS

Sunday 1st - 10:57

#Cognitivedissonance alert- Investors say they need real returns of 8.9%,51% above what Advisers believe is possible https://goo.gl/6nyjqU