Could there be a riskier play than investing in active managers... in a time of fee cutting and a passive onslaught taking in all new money.
Watching the downfall is crazy, if not predictable.
It's as if no one contemplated the fact next to no manager always outperforms the market. Yet, here we are - and everyone is surprised when exactly that happens.
If a manager can't show his skill in a market like this - pandemic/war/inflation/rates - he doesn't deserve anyone's money. Time for Magellan to stand up, but sadly I don't think that will happen when in caretaker mode.
Knowing the herd mentality - there will be plenty more redemptions until all that is left is the money locked in closed capital funds.
Who would have thought we would see Platinum 2.0 playing out in front of our eyes - another case of the big international fund manager losing its way.
Funnily enough, I remember the Livewire sit down with Clifford and Douglass - both had polar opposite viewpoints on the market. Turns out they were both wrong...
And that makes sense because 85% of managers are wrong over the long term.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)