I recently met with a fund manager, a research analyst and an investment house representative (this is sounding like the start to a dull joke!) who were keen to foist upon me a big, glossy, heavy tome titled ‘Global Equity Strategy’.
Suspecting it was a volume more suited to a fund manager than me and not wanting to commit to reading hundreds of pages that would not add any value to my clients or my business I asked if they could give me a simple overview before I took it and agreed to digest it.
The succinct answer was “It’s a summary of a load of work done by boffins”
Nevertheless, having read it (well, most of it) I'll pass on one fact - If there are 1,894 funds to pick from, the chances of picking the best one, 3 years in a row, are 6,794,224,983 to 1
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