Bull markets do not end this way

14 February 2018

Ken Fisher

Bull markets do not end this way. The recent sell off indicates abundant new highs ahead. Corrections are predictive.

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Bitcoin dives as regulators call for cryptos to be reined in

09 February 2018

Martin Arnold and Chloe Cornish

They have been branded a Ponzi scheme, a tax dodge and an environmental disaster — and that is merely a fraction of the criticism that regulators have thrown at cryptocurrencies in the past week alone.

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The wrong obituary has been written for the US IPO

Date published: 02 February 2018

Robin Wigglesworth

In January TechCrunch, as close as you will get to an in-house blog of the technology industry, wrote an obituary of the initial public offering. It has plenty of company in declaring the death of the American IPO.

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Blockchain explainer: a revolution only in its infancy

02 February 2018

Hannah Murphy and Philip Stafford

The word blockchain has been the equivalent of financial fairy dust in recent weeks, adding tens of millions of dollars to the market value of companies, including former camera pioneer Kodak Eastman, that have announced a project involving the technology or simply added it to their names.

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Active fund managers beat market by just 16p for every £100 invested

28 January 2018

Owen Walker

Pension schemes that used active fund managers over the past quarter of a century were rewarded . . . but only by 16p a year for every £100 they invested.

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Big bonuses set to turn housebuilders into new pay villains

by Aime Williams 29 December 2017

 After years of bankers bearing the brunt of political criticism over executive pay, housebuilders look poised to take centre stage as the new villains.

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On executive pay, incentives have limits

01 November 2017

Boards will always need to apply judgment and a sense of proportion.

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Investors pass the buck on governance

30 October 2017

Does corporate governance matter? Or, to be more precise, do investors really care about it? This is a question that I have been pondering for two reasons. First, huge amounts of passive investment has made questions about corporate decision making irrelevant for many investors. When you are just tracking the index, you are not looking at what a company is really doing on the ground and whether its leaders are making the right calls. You are simply passing the buck to the market.

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THE LONG VIEW - How passive investors morphed into the bad guys

14 October 2017

 Markets are suffering from a serious case of passive aggression. Or at least that is what many now believe.

Passive investing - in which funds merely match an index and make no active attempt to choose stocks or other securities - has transformed markets over the past 25 years. In the US more than a third of stock funds assets are passive, while index funds dominate flows of new money into the market.

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Central bankers' face a crisis of confidence as models fail

11 October 2017

Central bankers usurped the titans of Wall Street as the masters of the universe almost a decade ago. They rescued the global economy from the financial crisis, flooding the world with cheap money. They used their powers effectively to get banks lending again. Their actions raised asset prices, keeping business and consumer confidence up. Financial markets and populations hang on their words. But never have they been so vulnerable.

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FT BIG READ - STOCK MARKETS - The return of the stock picker

25 September 2017

 For the past decade, cheap index funds have outperformed the vast majority of equity managers. But as central banks withdraw money from the financial system, active investors believe it is their moment.

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FT BIG READ - INVESTING - The ethical investment boom

04 September 2017

Funds that uphold ‘environmental, social and governance’ standards tend to outperform those that do not. Investors from Swiss Re to large pension funds are taking notice, so does it pay to be ethical?

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