FY2016 was an excellent year for the fund, at least in comparison to a fairly weak performance from the indices. FY2013 and FY2014 were very strong ones for the Australian market, with a 44.15% 2-year gain. FY2015 and FY2016 have been disappointing, with only a 7.93% 2-year gain. A little extra tailwind would certainly be helpful in generating a larger absolute performance.
I am a huge fan of logic. Insofar as it is possible, I try to ensure every view I hold stands up to logical argument and well considered reasoning. If a qualitative challenge to any position I hold is presented to me I am among the fastest people I know to change my position. But […]
As mentioned last week, I’m travelling, so don’t wait with bated breath for the usual 500 words of quality prose on topics both interesting and unexpected. Instead this week, I’ve written some poetry.
What you want is a Fund Manager that feels terrible when they lose some of your money (even if it’s just a quotational loss). They should really sweat bullets when things aren’t going well, or they’re not fit for the job.