Asset Management
An in-depth market commentary which details market performance over the quarter, discusses factors which contributed to performance – or not – and a caution regarding chasing headlines and bowing to peer pressure in the composition of an investment portfolio. Market Overview Q2 2022 Local is lekka
Asset Management
Clive Eggers Head – Multi Managed Portfolios ________________________________________________________________________________________________ The importance of trust in active fund management In a 2016 article entitled “Even God would get fired as an active investor”, author and portfolio manager Wesley Gray conducted a fascinating thought experiment. He imagined an omniscient, clairvoyant investment manager who built a “perfect” portfolio of stocks that were destined to perform the best over the next five years. Once the five-year period was over, another set of stocks would be selected, again those that would return the best performance over the next five years. To be clear, this is a completely impractical investment approach, relying as it does on perfect, accurate future knowledge. Unsurprisingly, it works exceptionally well. As Gray put it: “’God’ would compound at nearly 29% a year, in theory. In practice, he would run... Read More
