Ann: Funds Under Management - April 2023, page-108

If you could please provide a copy of the AFR a year from now with stock prices listed, that would add to the discussion in terms of picking winners.

Your allocation to ASX200 or any index is a foward looking investment decision, either you make the call or pay someone. The ASX has done well that's good but you may have wanted overseas diversification and I think you'll find over 20 years the international fund has outperformed.

I am making such a decision short QQQ long PTM today because I think it's most prospective, without the benefit of hindsight. While I really want to see explosives go off on the short side a lot of so-called broad based etfs have a lot of US exposure which will likely also suffer.

We can and should criticise PTMs underexposure to the US but probably Kerr is among those most to blame, theres videos of him complaining about low interest rates in 2015 when he could have said I personally don't like it but I think it will take prices higher.

Once again easy for me to criticise from the cheap seats with the benefit of hindsight and without the responsibility of $18bn of OPM weighing on my mind.