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When the wind blows

  Warren Buffett has just released his latest letter to Berkshire Hathaway shareholders, and once again it doesn’t disappoint. This year’s letter finds Buffett in reflective mood. On March 11th, he explains, it will be 77 years since he first invested in an American business. The business in question was called Cities Service, and...

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WIth funds and football, hiring and firing managers isn’t the answer

  There can hardly be a football club chairman in the world who hasn’t at some point had the urge to sack the manager. Fans know the feeling too. The current incumbent offered such promise when he first arrived, but after two or...

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New video explaining what EBI is

  To coincide with #TEBAbirmingham, our very first conference for evidence-based financial advisers*, we are pleased to announce the launch of a new animated video called, What is evidence-based investing? Produced by our colleagues at Regis Media, the video is three minutes long...

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It’s only human to ignore the evidence in front of us

  Logically, the best way to make sensible choices in life is to assemble the relevant information, weigh up the evidence before us, and then make a decision on the strength of it. Unfortunately, it usually doesn’t work like that. In fact the...

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Time, the investor’s best friend

  “The historical data supports one conclusion with unusual force: To invest with success, you must be a long-term investor.” So wrote Jack Bogle in his 2010 book, Common Sense on Mutual Funds. Throughout his career, the importance of a long-term perspective was...

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The problem with SJP

  A letter landed on my doormat the other day from St James’s Place Wealth Management. “At a time of great global and political uncertainty,” the letter began, “bought (sic) about by Brexit and Trump, where do you go to find the best...

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Denial is the worst way to handle an existential crisis

  Warren Buffett’s business partner Charlie Munger made an extraordinary observation the other day… and hardly anyone batted an eyelid. Munger, still razor-sharp at 95, was addressing the annual meeting of the Daily Journal Corporation in Los Angeles on the subject of active...

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