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The Big W: Bets, Lies and Variable Tips (Debate)
Manage episode 300505633 series 2862061
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Welcome to the New Fund Order. An Orwellian journey into the Darkside, the Frontier and the Fringe of Finance.
Our first New Fund Order debate, about 'that manager'...
We debate the ins and outs, the ups and downs of that 'Oracle of Oxford' and the whole sad and sorry affair which rocked fund allocators, distributors and the divinity of the star manager.
Helping guide us through the detail are the two prominent writers David Ricketts of 'When the Fund Stops' and Owen Walker 'Built on a Lie'.
When the Fund Stops by David Ricketts | Harriman House (harriman-house.com)
Built on a Lie (penguin.co.uk)
Check out the trailer here: https://youtu.be/M9nhgC64rCI
We explore the collective culpability by the; regulator, the regulations, authorised corporate directors, depositaries, buy list providers, pension schemes, media, even the fund structure and all who had a hand in the rise and fall of the UK's most famous fund manager.
We explore whether there was a duality of culture, was/is there an inherent flaw in the open-ended fund model? Is the desire to build book ultimately a recipe to create "supertanker funds" and undermine outcomes for investors, how can we stop the worst of investor herding out of funds? Do fund allocators get too close to their fund managers? Was there simply a lack of due diligence by fund allocators? Was it a tale of misogyny, risk raking, and greed? Was there too much hubris? What did the manager get right, what wrong? What could allocators do better? How do we inflect, reflect and reconcile?
Will selectors make the same mistake again? Probably. What lessons can we learn? Hopefully a few...
Credits;
Additional Sound effects by Soundbible.com. Creative Commons Attribution 3.0 and Public Domain 1.0. All additional Music used by Silvermansound.com Attribution 4.0 International (CC BY 4.0).
Music: Mystery Unsolved by Shane Ivers - https://www.silvermansound.com
Allianz Global Investors (AGI)
Active is: Allianz Global Investors.
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Active is: Allianz Global Investors.
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