“Mum, where do returns come from?”

“Mum, where do returns come from?”

There are many theories about why most “active” fund managers fail to consistently outperform their benchmarks. It takes many years of study and market experience to become a portfolio manager, but good results are often elusive. One theory is that there...
No Crystal Ball: Year in Review

No Crystal Ball: Year in Review

‘Investors are bracing for another year of event-driven volatility on the Australian share market, against a backdrop of subdued growth and earnings.’ That was the warning of a local newspaper as the 2016/17 financial year began. So how did that turn out?...