The First to Present His Case

There is a proverb I like which states: “The first to present his case seems right, till another comes forward and questions him.” * The context of this proverb suggest it relates to court judgements but equally it is relevant to investment opinions as fund managers advocate polar opposite views on the investment case for differing assets and markets. For …

Beta Jockeys to Fall at the First Hurdle?

Data* cited in an article by Apollo Multi Asset Management show major global stockmarkets for the five years to 31/12/13 have performed strongly with the S&P 500 index up by about 120%. Even the MSCI Emerging Markets Index was up by 95%. This five year period started after the financial crash in 2008 and barring some set-backs, notably the EuroZone …