Something concerning has happened since the last Blog.
We will examine ‘market-timing’ in this edition. If you read nothing else, the second to last paragraph is the most important of the blog.
Before I delve into this editions fascinating take on my view of the idiosyncrasies of measuring risk, I first wanted to talk about risks specific to your investment in EGP.
The Principal-Agent Problem is an issue in a number of industries. It is an enormous issue for the fund management industry.
The portfolio metrics based on 30 June 2016 balance date and 15 September 2016 prices:
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Update No. 278 – 31/08/16
August was a good month for the fund. Particularly in light of a retreating market.
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Update No. 277 – 15/08/16
The recent positive bias for the market has mostly continued into August.
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Update No. 276 – 31/07/16
There is much in Kipling’s poem ‘If’ that can be applied to investing:
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Update No. 275 – 15/07/16
In Leviathan, Thomas Hobbes set out much of the fundament of what the construction of our modern social and political lives has been based.
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Update No. 274 – 01/07/16
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.
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Update No. 273 – 24/06/16
Some men they say just want to watch the world burn.
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Update No. 272 – 17/06/16
I was given this week to think about beginnings.
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Update No. 271 – 10/06/16
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 […]
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Update No. 270 – 03/06/16
After 7 consecutive weekly rises, the market finally retreated this week.
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Update No. 269 – 27/05/16
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.