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Article: Stockbroker's onslaught at fund managers.(Christows Group)(Brief article)
- Article from:
- Money Marketing
- Article date:
- July 20, 2006
CopyrightCOPYRIGHT 2006 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stockbroker Christows has fired a broadside at fund managers, claiming they get more respect than they deserve.
Head of fund research Dan Kemp says investors selecting a fund should assume the manager is no good to ensure that their judgement is not clouded by marketing material.
He also warns against relying on strong past performance as he says that performance nearly always proves inconsistent.
Kemp says: "Assume that all fund managers are idiots until proven otherwise. As figures of authority, fund managers command more respect than they deserve. Begin your analysis of the fund with an assumption that the manager is no good. This helps ...