Ann: Update on Hamish Douglass & David George commencement date, page-92

If managers could finally prove that they are more than just a good salesman - they might start attracting FUM again.

There is now over 30 years of stats that show in over 90% of cases indexing will provide better results than investing with an active manager.

Yet, you will still have people try to argue it's a worthwhile endeavour searching for that 10% that manage to outperform. Worst still, they will somehow try to convince everyone

That's not financial advice, its just promoting gambling.

The industry is broken. It was only a matter of time when the Hamish's of the world - thinking they can understand macro economic and political events more than any other person - would come unstuck.

There is a simple reason all the money is going to passive. It outperforms in the vast amount of cases.

We have all heard the scare campaigns from active managers, claiming it will all fail when the market turns. In reality, when the market turns it takes everyone. We are seeing this now.

Yes, both active and passive have a place in an investor's portfolio, but it's time to stop pretending the active funds management industry is not in dire trouble.

As for Hamish, his actions seem to suggest he is hell bent on destroying all market confidence in this company. Perhaps it would be best if he just sells up and rids himself of the crime scene.