‘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
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 ...