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INVESTMENT BLOG
The Latest on Equities, Bonds, Economics, Behavioural Investing, Climate Change & More
What Makes A Good Investor?
Grey is the new gold! There will be as many opinions about what makes a good investor as there are investors. Here's mine.
Peter Elston
Feb 1, 20235 min read
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Wealth Managers May Need A Complete Rethink
Persistent high inflation will make a mockery of balanced and risk rated funds
Peter Elston
Oct 27, 20225 min read
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Extreme Hubris
Blue Whale's Steven Yiu may come to regret his decision to call publicly for 'most active managers to quit'
Peter Elston
Sep 2, 20223 min read
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Tools of the Trade
In this post I set out a classification scheme for publicly available investment funds. It is hoped this can provide those readers who ...
Peter Elston
May 1, 20224 min read
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No Such Thing as a Free Lunch
In my Last Word column in May this year I wrote about investment fund blow-ups, with a focus on the debacle of Allianz’s Structured Alpha...
Peter Elston
Dec 1, 20214 min read
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When 'Bets' Go Wrong
Readers of this column will know I am an advocate for better protection of amateur investors. But what about the professionals who either...
Peter Elston
May 1, 20213 min read
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Education, Education, Education
It always saddens me when I hear about small investors having lost, perhaps irretrievably, a sizeable portion of their net worth, in...
Peter Elston
Feb 1, 20203 min read
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Take a Stand Against Mediocrity
The investment profession is one I have often said that I both love and loath. I love the company or country analysis; and the fact that...
Peter Elston
Aug 1, 20193 min read
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The Myths and Misunderstandings Behind Active Share
The issue of closet tracker funds charging high fees for poor performance has been a recent gripe of the Financial Conduct Authority. It...
Peter Elston
Mar 1, 20194 min read
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Lessons from Scandinavia
The fund industry is not like other industries. With most consumer products, you know what you are getting. Furthermore, if they break,...
Peter Elston
Dec 1, 20183 min read
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The Benefits of Smaller Fund Size
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. It is well...
Peter Elston
Aug 1, 20183 min read
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An Attack on Poor Active Management
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. I abhor poor...
Peter Elston
Aug 1, 20174 min read
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Interesting Anomaly with Respect to Global Fund Managers’ AUM Rankings
I mentioned at the start of this letter that we had been shortlisted for two prestigious awards. We were nominated in two of 18...
Peter Elston
Aug 1, 20172 min read
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Is a Computer Going to Steal my Job as a Fund Manager?
Question: what is significant about the dates February 1996, October 2015 and January 2017? Answer: these were the dates on which, for...
Peter Elston
Apr 1, 20176 min read
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Introduction of New Investment Process – One Year On
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. Our new...
Peter Elston
May 1, 20169 min read
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Multi-Asset and the Changing Nature of Asset Allocation
Financial advisers will be only too aware that the difference between a comfortable retirement and an uncomfortable one is almost too...
Peter Elston
Apr 1, 20165 min read
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The Relevance of Multi-Asset Investing
We all know that the difference between a comfortable retirement and an uncomfortable one is almost too huge to contemplate. And yet you...
Peter Elston
Apr 1, 20165 min read
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Response to FT Adviser Article
From Seneca Investment Managers' public marketing material. Seneca is now part of Momentum Global Investment Management. My attention was...
Peter Elston
Sep 1, 20153 min read
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A Bit of Maths Will Help Clarify Fund Fee Picture
How should you judge whether a fund’s fees are worth paying? This can be a very hard question to answer in an industry where the...
Peter Elston
Dec 1, 20104 min read
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Study Finds Good Predictor of Fund Performance
Is it possible to find a simple measure that identifies skilful active managers and thus funds that will produce good returns?...
Peter Elston
Sep 1, 20104 min read
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Where's My Cycle?
An update on where I think we are in the business cycle with respect to growth, inflation and markets
Correlation or causation?
Data is too often presented in an unfair, unclear and misleading way
Dear John
Liontrust's John Husselbee's arguments in support of balanced funds are lame
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