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Introduction

‘It’s amazing how difficult it is for a man to understand something if he’s paid a small fortune not to understand it.’

John Bogle paraphrasing Upton Sinclair

‘Money often costs too much.’

Ralph Waldo Emerson

Welcome to the revolution – Investing 2.0

Ask yourself how you invest.

In 2001 I did just that – I looked at my long list of then failing investments and asked myself what I was really investing in. Two obvious ‘facts on the ground’ sprang up at me as I scanned the sorry list of assets – I had invested first in individual stocks, lots of them, and then second, funds, the vast majority of which were conventional unit trusts. In fact I had lots and lots of those funds and to judge by their performance, my strategy was ...

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