AyG
Crazy Mango Extraordinaire
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Post by AyG on Oct 19, 2019 7:06:34 GMT 7
Career over... never underestimate the importance of 1) proper risk management 2) liquidity ... and 3) sticking to what you're good at. There was an opinion piece by Nils Pratley about Hargreaves Lansdown's role in the debacle in The Guardian a couple of days ago. The whole article is worth a read. I'll just quote one paragraph of HL's "best buy" list: "Nobody, obviously, expects only winning funds to be included. But come on, the one-dimensional fan-club tone of best buy lists is grating. Where’s the scepticism? Where are the counter-views? Where’s the acknowledgement that the cult of the star fund manager, which has been hugely profitable for Hargreaves, may not be all it’s cracked up to be?" www.theguardian.com/business/nils-pratley-on-finance/2019/oct/16/after-woodford-where-is-the-contrition-from-hargreaves-lansdown
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Post by Fletchsmile on Oct 21, 2019 12:34:46 GMT 7
Career over... never underestimate the importance of 1) proper risk management 2) liquidity ... and 3) sticking to what you're good at. There was an opinion piece by Nils Pratley about Hargreaves Lansdown's role in the debacle in The Guardian a couple of days ago. The whole article is worth a read. I'll just quote one paragraph of HL's "best buy" list: "Nobody, obviously, expects only winning funds to be included. But come on, the one-dimensional fan-club tone of best buy lists is grating. Where’s the scepticism? Where are the counter-views? Where’s the acknowledgement that the cult of the star fund manager, which has been hugely profitable for Hargreaves, may not be all it’s cracked up to be?" www.theguardian.com/business/nils-pratley-on-finance/2019/oct/16/after-woodford-where-is-the-contrition-from-hargreaves-lansdownTo be honest, I found the article pretty shallow. Nothing new or original in it. There are very few journalists for daily newspapers that I find of interest for financial matters, and this guy doesn't look like an exception.
The key problems tend to be:
1) they usually lack expertise in finance. If they actually knew much they would be pursuing a career in finance rather than writing about it in a newspaper Don't really know Nils Pratley but there wasn't really much depth in his article or anything that set him aside in his piece as someone worth reading
2) they usually just focus on high profile cases after the event, for their own newspaper ratings, with superficial comments. The result is 20/20 hindsight In his case also a pretty obvious try to capitalise on an event we all know about, as though "look at me I'm a champion of consumer rights", but not having anything to say that hasn't already been said.
The para highlighted is the main crux of the article. It's a valid point to raise. But he's not actually thrown anything new or original to make that single point.
Just another guy jumping on the band wagon, telling people that the horse has bolted, which we already know.
More interesting would be to write about how HL's best buy list has changed, narrowed etc. Personally I don't find HL's lists as useful as they used to be, but nothing to do with Woodford or recent events.
These days Bloomberg, Reuters are usually first to a story in terms of speed. So newspapers need to try and compete with thoughtful reflection or analysis or something different. This guy falls well short.
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