When I consider my relatively short time in managing money, one thing I have learnt is that every year there are challenges. 2022 is no different. Some of the concerns include inflation, central banks, a China slowdown, and Ukraine / Russia. In May we will be sending out our rebalance packs and in advance of […]
Why
To achieve above average performance will by definition be in the minority.
Successful long-term investing will therefore require positions to be taken which are at odds with the consensus.
The price of an asset is simply the aggregate of the whole market’s average belief in the future prospects of an asset itself, and of the economy affected by macro factors.
We do not believe that markets are efficient over the short term; we believe that considerable mispricing occurs due to excessive emotions (both positive and negative) and that this provides the thoughtful and emotionally intelligent investor with a significant advantage.
This section features articles which question the orthodox, test the consensus and highlight the anomalous.