Looking back at the first quarter of 2023, an interesting exercise is to look at the news that hit the front pages and ask the questions...

The past twelve months may be unwelcome and painful for companies and investors alike but they are a stark and healthy return to reality.

Market volatility has continued to dominate this last quarter and is likely to remain for as long as the path of interest rate rises remains uncertain...

Short-term volatility is the – often uncomfortable – price we pay for long-term compounding. We believe that the results should be well worth the price of admission from her ...

One thing we often highlight is the superior long-term performance of the (mostly US) university endowments versus the private banks.

We are unashamed advocates for active fund management. This may seem quixotic given the underwhelming record of the active management industry as a whole.