In active equity investing, process and humility may matter more than certainty
Invesco’s Andrew Hall says the best investors are not the most certain: they are the most disciplined about process, psychology and knowing what can go wrong.
Invesco’s Andrew Hall says the best investors are not the most certain: they are the most disciplined about process, psychology and knowing what can go wrong.
So, interest rates have finally been cut in Australia. Once again, our central bank took longer than most expected to ease financial conditions for Australian borrowers, but with every decision, there are winners and losers.
Lazy portfolios can be overconcentrated, overdiversified, full of yesterday’s winners, devoid of structured asset allocation, full of misallocated positions or agnostic to markets and client expectations. All of this is happening more than it should.
Ever since the GFC interest rates around the world have been on a trajectory to zero, which acted as a proxy tax on investing for retirement for millions. But the current economic is a whole new ball game, writes Drew Meredith.
A global study has shown that the problems faced by the Big4 are universal; incumbent banks may have the data, products, infrastructure and capital, but it doesn’t guarantee customer primacy.
Despite a backdrop of weaker returns and uncertainty, Australian Ethical has continued to grow via great engagement and ‘consumer love’.
The pursuit is focused, relentless and uncompromising – dismissive of any potential consequences. So what happens when the addiction is to risk?