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The Investor Challenge / Blog post: How to lose money in the stock market.
« on: August 21, 2013, 10:46:00 pm »
Comments relating to the new blog post How to lose money in the stock market.
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What? They should be putting their money where their goddamn mouth is.”
That was the response from one well known but irate US investor when I told him that fund industry professionals appear to be touting the advantages of active management as part of their day job, while investing their personal assets in low-cost passive funds.
Indeed, a poll by Ignites, an FTfm sister publication, of 1,001 fund staff – many of whom make their living promoting active products – reveals that two-thirds have a sizeable amount of their personal savings in passive funds. This includes 45 per cent who say they have a “significant” portion in passive products. Only one in five say they avoid passive funds altogether.
The findings should not be surprising, given that three-quarters of active managers never actually beat the market – a statistic those in the fund business know all too well. It does, however, leave a bitter taste in the mouth.
Please Note: There has been a 1 for 20 share consolidation in GIJ. Clients updated holdings will reflect from 22 July
(b) in relation to the register of members of the Company maintained in South Africa:
(i)
49 of every 50 Ordinary Shares held by a member as at 5.00 p.m. (South African time) on Friday, 14 June 2013 shall each be redesignated as Deferred Shares;
(ii)
any Ordinary Shares held by a member who, as at 5.00 p.m. (South African time) on Friday, 14 June 2013, holds less than 50 Ordinary Shares shall each be redesignated as Deferred
Shares; and
(iii)
any additional Ordinary Shares held by a member following the redesignation in sub-paragraph (b)(i) above shall each be redesignated as Deferred Shares.