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 …

Investing and Investment Planning – Art, Science, Gambling or Gardening?

For my final investment blog post of 2016 I want to change tack from the usual technical analysis and market commentary and address the more philosophical aspects of investing. The key question is this. Is investment planning and advice on investments an art or science? Should I be going to the Tate Modern for inspiration or the Science Museum and …

Woodford Beaten by a Machine

A few weeks ago I came across an article in the finance section of the Daily Telegraph online. It read “Man v Machine – How Neil Woodford was beaten by a computer.” Naturally as a supporter of Woodford, one of the very best UK equity managers the headline piqued my interest. As you may be aware Woodford managed highly successful …

Is Active Fund Management Worth Paying For?

Fidelity Investments have recently cut charges on their range of very low cost index tracker funds undercutting their rivals and raising again the old chestnut, is it worth paying extra management charges for a fund manager to actively select stocks compared to buying a low cost index tracker? To remind you index trackers and Exchange Traded Funds (ETFs) are passive …

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 …